Bitcoin ETF

Bitcoin

James

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-60000-a-look-at-todays-crypto-market-dynamics/" data-wpel-link="internal">Bitcoin Surpasses $60,000: A Look at Today’s Crypto Market Dynamics</a><br></p>
<p style="text-align: justify">Although it may seem like a dream, <a href="https://coin-turk.com/son-dakika-abd-istihdam-ve-issizlik-verileri-aciklandi-btcde-son-durum" data-wpel-link="internal">Bitcoin</a> is finding buyers above $60,000, and this is happening for the first time since the 2021 ATH period. <a href="https://en.coin-turk.com/bitcoins-volatility-decreased-reasons-and-implications/" data-wpel-link="internal">Bitcoin</a>, which had fallen to $15,500, is now back at the peak, despite some claiming it was over and dead. Moreover, the halving hasn’t even happened yet, and the real peak is expected to be seen in 2025. So, what’s happening with cryptocurrencies these days?</p> 
<h2 style="text-align: justify" id="what-s-happening-in-the-crypto-markets">What’s Happening in the Crypto Markets?</h2> 
<p style="text-align: justify"><strong>Bitcoin</strong> is currently at $62,900, and the U.S. government has moved approximately $1 billion worth of <a href="https://coin-turk.com/analist-hedefi-belirledi-bitcoin-btc-ve-bu-3-altcoini-isaret-etti" data-wpel-link="internal">BTC</a> that it seized from Bitfinex in 2016. We witnessed a historic day for spot Bitcoin ETF entries, with volumes doubling the previous peak.</p> 
<h3 style="text-align: justify" id="u-s-btc-sales">U.S. BTC Sales</h3> 
<p style="text-align: justify">The U.S. government holds a massive accumulation of <strong>Bitcoin</strong> seized from criminals. Two wallets that held funds seized from <strong>Bitfinex</strong> in 2016 recently made transfers worth $922 million. The government had confiscated 119,754 <a href="https://en.coin-turk.com/bitcoin-miners-see-significant-gains-amid-rising-transaction-fees/" data-wpel-link="internal">BTC</a> following the hack of Bitfinex in 2016, which are valued at $7.4 billion today.</p> 
<p style="text-align: justify">Now, with prices at the peak, the government is moving a $922 million asset, and it is expected to sell again through Coinbase. These sales may not trigger a major downturn as they are conducted OTC and ETF demand continues to be strong.</p> 
<h3 style="text-align: justify" id="etf-volumes-break-records">ETF Volumes Break Records</h3> 
<p style="text-align: justify">Bloomberg ETF analyst James Seyffart reported that yesterday’s cumulative trading volume reached $7.69 billion. BlackRock’s <strong>iShares Bitcoin ETF</strong> (IBIT) accounted for 45% of this volume with $3.35 billion.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-321307 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ETF-Hacimleri-1.png" alt="" width="755" height="276"></p> 
<p style="text-align: justify">Bloomberg analyst Eric Balchunas also highlighted another record broken yesterday with half a million individual investor transactions. As we have discussed before, the introduction of ETFs has raised questions about whether FOMO driven by ETFs could abnormally increase entries. The best-case scenario is unfolding as prices rise on crypto exchanges and investors make more entries through ETF channels.</p> 
<h3 style="text-align: justify" id="coinbase-and-binance-issues">Coinbase and Binance Issues</h3> 
<p style="text-align: justify">Yesterday, as <strong>BTC</strong> was about to surge to $65,000, a sudden drop from $64,000 began, and the exchanges’ mobile applications experienced problems. Coinbase and <a href="https://en.coin-turk.com/binance-announces-full-withdrawal-from-russia-whats-next/" data-wpel-link="internal">Binance</a> users encountered errors due to heavy traffic in the app. Investors who saw their balance as zero or could not open the buy/sell screen voiced their complaints on social media.</p> 
<p style="text-align: justify">Soon after, the exchanges took the necessary steps to handle the heavy traffic, and the problem was resolved.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surpasses-60000-a-look-at-todays-crypto-market-dynamics/" data-wpel-link="internal">Bitcoin Surpasses $60,000: A Look at Today’s Crypto Market Dynamics</a></h5>

Bitcoin Surpasses $60,000: A Look at Today’s Crypto Market Dynamics

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