Reversal

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-record-surge-and-etf-trading-boom-herald-vibrant-crypto-market">Bitcoin’s Record Surge and ETF Trading Boom Herald Vibrant Crypto Market</a><br></p>
<p style="text-align: justify"> The <a href="https://en.bitcoinhaber.net/galaxy-digital-eyes-acquisitions-amidst-crypto-market-turmoil">cryptocurrency</a> landscape has undergone notable changes in recent times, with the <a href="https://en.bitcoinhaber.net/exploring-bitcoins-next-halving-effect-on-nft-market-growth">NFT</a> sector harboring expectations of a price surge due to <a href="https://en.bitcoinhaber.net/bitcoins-bright-horizon-key-catalysts-for-a-potential-2024-rally">Bitcoin</a>‘s impending halving event. In a day of unprecedented activity, spot Bitcoin exchange-traded funds (ETFs) saw a historic $10 billion in trading volume. Concurrently, Bitcoin achieved a new zenith, breaking past $69,000 for the first time since the previous year, setting a record high. </p> 
<h2 id="expectations-rise-in-nft-sector-with-bitcoin-s-halving-on-the-horizon">Expectations Rise in NFT Sector with Bitcoin’s Halving on the Horizon</h2> 
<p style="text-align: justify"> Industry insiders within the NFT domain are anticipating beneficial ripple effects from Bitcoin’s next halving event, forecasting a potential uplift in the NFT market. Oscar Franklin Tan of Atlas Development, a key figure at the NFT platform Enjin, remains optimistic about NFT price growth post-halving, citing a typical increase in prices and volumes following such events. Tan suggests this positive trend could bolster NFT adoption, prompting the launch of new collections and dedicated marketplaces. </p> 
<h2 id="etfs-shatter-previous-records-amidst-bitcoin-excitement">ETFs Shatter Previous Records Amidst Bitcoin Excitement</h2> 
<p style="text-align: justify"> On March 5th, U.S.-based spot Bitcoin ETFs shattered their previous trading records, with an astonishing $10 billion volume, significantly surpassing the earlier record of $7.7 billion. The substantial trade volume among the ETFs was spearheaded by leading funds, including BlackRock, Grayscale, and Fidelity, with BlackRock at the forefront with $3.7 billion in trades. Bloomberg ETF analyst Eric Balchunas highlighted the significance of these figures. Despite ETF funds experiencing an 8.6% drop during the day’s trading, Bitcoin soared to new heights, topping $69,200 before experiencing a sharp decline below the $60,000 mark. </p> 
<h2 id="bitcoin-s-historic-peak-and-swift-reversal">Bitcoin’s Historic Peak and Swift Reversal</h2> 
<p style="text-align: justify"> On its milestone day, Bitcoin’s value soared above $69,200, marking an 846-day gap since its last record high in 2021. This surge represented a 348% increase from its $15,400 low. This peak came notably before the much-anticipated halving event, known as a critical determinant of Bitcoin’s value. Nevertheless, the excitement was short-lived as Bitcoin’s price underwent a rapid downturn, plunging to below $64,000 later on the same day.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-record-surge-and-etf-trading-boom-herald-vibrant-crypto-market">Bitcoin’s Record Surge and ETF Trading Boom Herald Vibrant Crypto Market</a></h5>

Bitcoin’s Record Surge and ETF Trading Boom Herald Vibrant Crypto Market

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