While Bitcoin has increased by more than 6% in the last 24 hours, it rose to $ 65,500 around 11.30 pm and reached one of the highest levels in the last 2 years.
While the largest cryptocurrency is getting one step closer to the $69,000 level in November 2021, the fire lit by ETFs does not seem to go out.
Halving is coming, BTC is leaving the stock exchanges
One of the biggest factors in Bitcoin's rise was the acceptance of exchange-traded funds, known as ETFs, in the United States. After the SEC approved it on January 10, money poured into ETFs and continues to do so. While the interest in BlackRock funds in particular grew like an avalanche, Grayscale sales of a total of $ 1.1 billion on Thursday and Friday could not reduce the price of Bitcoin and the rise continued over the weekend. In fact, the BTC outflow seen on the stock exchanges on Friday reached 2.3 billion dollars.
The halving that crypto markets have been waiting for after ETFs seems to be the new story of investors. The reward halving, which is expected to take place in mid-April, will reduce the reward given to miners per block from 6.25 BTC to 3,125 BTC. While this situation is expected to significantly reduce the rate of increase in supply, it is estimated that the price will increase in the long term.
The last halving took place in May 2020, and 6 months after the halving, Bitcoin started a huge price rally. At that time, the 20 thousand dollar threshold, which was the peak of 2017, was easily exceeded within a few days.
