Bitcoin ETF

Bitcoin

April

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<p>The post <a href="https://coinpedia.org/news/top-reasons-why-the-crypto-market-is-up-today-2/">Top Reasons Why the Crypto Market is Up Today</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a triumphant return, the cryptocurrency market, spearheaded by <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, has soared past the $51,500 threshold, achieving an impressive $1 trillion in market capitalization. This surge marks a historic high for Bitcoin, a level not seen since 2021, when the digital giant faced a significant setback, plummeting by $16,000 by the close of 2022.</p> 
<p>The cryptocurrency realm is buzzing with excitement as Bitcoin stages a remarkable comeback. Multiple factors fuel this resurgence, bringing about a positive wave in Bitcoin and other digital asset prices.</p> 
<h2 class="wp-block-heading" id="h-inflows-surge-blackrock-s-dominance">Inflows Surge: BlackRock’s Dominance</h2> 
<p>Bitcoin’s recent upswing is credited to substantial inflows into Spot Bitcoin ETFs, with an astounding $631 million recorded on February 13 alone. Leading the charge is BlackRock’s iShares Bitcoin ETF (IBIT), reeling in a staggering <a href="https://farside.co.uk/?p=997">$493 million</a>, leaving its competitors trailing far behind. Fidelity claims the second spot with $163 million in recorded inflows.</p> 
<p>Meanwhile, GBTC outflows have decelerated, maintaining a modest figure under $100 million over the past three days. The net inflows into Bitcoin ETFs now tally at $3.7 billion, with BlackRock witnessing an impressive $4.6 billion in net inflows, while GBTC grapples with $6.5 billion in net outflows.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/top-altcoins-to-watch-as-bitcoin-price-rises-above-51500/">Top Altcoins to Watch as Bitcoin Price Rises Above $51,500</a></p> 
<h2 class="wp-block-heading" id="h-a-bump-in-the-road">A Bump in the Road</h2> 
<p>However, the recent dip in Bitcoin’s price coincided with the much-anticipated <a href="https://coinpedia.org/news/crypto-market-under-pressure-the-impact-of-januarys-cpi-figures/">U.S. Consumer Price Index (CPI)</a> report. Initial projections suggest a 3.7% increase in January’s core CPI, marking the smallest annual gain since April 2021. Additionally, the overall CPI is expected to rise by less than 3% for the first time in two years. These indicators hint at the Federal Reserve’s effective anti-inflation measures, possibly paving the way for future interest rate cuts.</p> 
<h2 class="wp-block-heading" id="h-halving-on-the-horizon">Halving on the Horizon</h2> 
<p>Investors are on high alert as the eagerly awaited <a href="https://coinpedia.org/news/binance-boss-spills-crypto-secrets-bitcoin-ethereum-bnb-to-boom-eth-etf-coming-soon/">Halving</a> approaches in April, historically known to trigger substantial price rallies. This strategic event, designed to reduce Bitcoin’s supply rate, carries the potential to spark a surge in its value.</p> 
<p><a href="https://metrics.deribit.com/options/BTC">Deribit</a>, a leading crypto derivatives exchange, reports a notable uptick in open Bitcoin call options at strike prices of $60,000, $65,000, and $75,000 as the February 23 expiry date approaches.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-post-halving-heres-how-high-btc-price-might-surge-this-year/">Bitcoin Price Prediction Post Halving: Here’s How High BTC Price Might Surge This Year</a></p> 
<h2 class="wp-block-heading" id="h-the-meteoric-rise-continues">The Meteoric Rise Continues</h2> 
<p>With these influential factors shaping the prevailing bullish sentiment, investors maintain a cautiously optimistic outlook on the future trajectories of both Bitcoin and <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum prices</a>.</p> 
<p>Bitcoin has witnessed an impressive <a href="https://markets.coinpedia.org/bitcoin/">20% surge</a> in the last seven days, shattering the $51,500 barrier and displaying a 2.72% increase within the past 24 hours.</p> 
<p>As Bitcoin charts its upward course, experts predict the digital giant could hit the $55,000 mark in the coming days, fostering a positive sentiment in the market and paving the way for potential gains in the leading cryptocurrency.</p>

Top Reasons Why the Crypto Market is Up Today

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