Bitcoin

April

Trillion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-market-cap-surpasses-1-trillion-as-prices-soar/" data-wpel-link="internal">Bitcoin’s Market Cap Surpasses $1 Trillion as Prices Soar</a><br></p>
<p style="text-align: justify">Following the release of US data yesterday, <a href="https://en.coin-turk.com/bitcoins-recent-surge-attracts-investors-again-analysts-point-to-sustainable-bullish-trend/" data-wpel-link="internal">Bitcoin</a> experienced a sharp decline, falling to the $48,300 level, but the price surpassing $51,000 has created significant excitement. The anticipated surge before the planned halving in April seems to have investors quite thrilled. On the other hand, a significant development occurred in Bitcoin’s market cap. For the first time since December 5, 2021, it crossed the $1 trillion mark.</p> 
<h2 style="text-align: justify" id="bitcoin-market-cap-rises">Bitcoin Market Cap Rises</h2> 
<p style="text-align: justify">According to emerging data, the price of <strong>Bitcoin</strong> (BTC) exceeded the $51,000 mark during the afternoon of February 14, 2024. This also paved the way for the first emergence of a $1 trillion Bitcoin market value since December 5, 2021.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-314539" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-1-trilyon-dolar.png" alt="" width="1567" height="857"></p> 
<p style="text-align: justify">Last month, after the approval of spot Bitcoin ETFs, everyone was expecting a rise in Bitcoin’s price, which had rebounded from the $49,000 level and dropped to $38,500. This was thought to be influenced by major sales by Grayscale. Nevertheless, other major companies such as BlackRock and Fidelity continued to buy.</p> 
<p style="text-align: justify">Another giant company, Michael Saylor’s <strong>Microstrategy</strong>, also seems to be reaping the rewards of its investments. 30 days after the ETF approval, Bitcoin’s price has risen to levels desired by investors.</p> 
<p style="text-align: justify">The recent rise in Bitcoin was the result of a continued positive sentiment and has already reflected in the positions of option traders. Traders have started taking positions targeting the coming months, pointing to the $75,000 level.</p> 
<p style="text-align: justify">Some investors, however, appear to be more cautious but still maintain a bullish outlook. Depending on the expected increase in demand for spot bitcoin exchange-traded funds (ETFs), these investors suggest that the $64,000 level could emerge in the coming period.</p> 
<p style="text-align: justify">Following the opening of US markets yesterday, BlackRock’s ETF, IBIT, hosted a net inflow of $500 million as an indicator of intense purchase demand.</p> 
<h2 style="text-align: justify" id="current-state-of-bitcoin">Current State of Bitcoin</h2> 
<p style="text-align: justify">As of writing, the price of Bitcoin appears to be trying to maintain stability above $51,000. The price of Bitcoin has risen to $51,584, an increase of 3.75%.</p> 
<p style="text-align: justify">During this period, there has also been an increase in trading volume and market cap. Following the rise, the trading volume increased by 2% to reach $40 billion, while the market cap exceeded $1 trillion for the first time since 2021. The direction Bitcoin will take before the halving is already a subject of curiosity.</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/bitcoins-market-cap-surpasses-1-trillion-as-prices-soar/" data-wpel-link="internal">Bitcoin’s Market Cap Surpasses $1 Trillion as Prices Soar</a></h5>

Bitcoin’s Market Cap Surpasses $1 Trillion as Prices Soar

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