[As industry billionaires line up to attend the 2024 Bitcoin conference, the discussion around BTC continues to heat up]
Bitcoin (BTC) continues to attract a lot of attention, and the upcoming Bitcoin2024 conference will feature important speakers such as Trump and Robert F. Kennedy Jr.. The convention, scheduled for July 25-27, is part of the Republican Party's push for a financial freedom agenda.
Additionally, other speakers included MicroStrategy executive chairman Michael Saylor, whose company holds 226,331 Bitcoins worth more than $14.8 billion. Ark Invest CEO Cathie Wood, Russell Brand, Edward Snowden and Bill Miller IV will also participate. The speeches of these speakers may have a positive impact on market sentiment.
Bitcoin’s increased mainstream attention has been driven in part by the approval of spot Bitcoin ETFs, which have given institutional investors exposure to the cryptocurrency. This interest is also driven by advances in Bitcoin technology such as Layer-2 protocols, oracles, and Runes, making it an economic platform with its own global ecosystem.
Bitcoin ETF inflows hit an all-time high, surpassing $400 million in June, as institutional investors joined the market, demonstrating institutional confidence in Bitcoin as a valuable asset. Bitcoin remains above $65,000 and has been named the “best performing asset” multiple times.
According to a Glassnode report, Bitcoin’s daily on-chain transaction volume is approximately $46.4 billion. A break above $71,758 would put Bitcoin on track for a new all-time high, whereas a dip below $52,809 would invalidate the bullish outlook.
