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#Write2earn #Bitcoin Rally Continues: #ETF Demand Sparks Optimism #bullRun #BullMarket
$BTC $ADA $SOL
Bitcoin's current upward surge faces relatively few obstacles. The leading cryptocurrency has seen consecutive days of gains, edging closer to its previous peak, largely fueled by the anticipation of strong demand for exchange-traded funds (ETFs) at the beginning of the week.
Reaching as high as $65,010, its highest since November 2021, Bitcoin has shown remarkable resilience, although it retraced slightly to $64,917 by 8:28 a.m. London time.
The driving force behind this bullish momentum is the seemingly unquenchable appetite from US-listed Bitcoin ETFs, which commenced trading on January 11. Over the past year, Bitcoin has surged approximately 186%.
A substantial influx of $7.35 billion has poured into US Bitcoin ETFs since their introduction, attracting investments from major players like BlackRock Inc. and Fidelity Investments. Even substantial outflows, such as the nearly $9 billion from the Grayscale Bitcoin Trust since the ETFs' launch, have failed to deter traders.
Hayden Hughes, co-founder of social-trading platform Alpha Impact, remarked, "Given the low liquidity over the weekend, markets are moving north in anticipation that tonight’s ETF inflows will continue and prices will continue to rally."
Traders are optimistic about Bitcoin's price surpassing its previous record of almost $69,000, achieved during the Covid pandemic in November 2021. This optimism stems from the strong demand for ETFs and concerns about missing out before the upcoming Bitcoin halving expected in April. The halving, which cuts the reward for mining in half, could reduce the coin's supply growth, further intensifying demand.
Altcoins like Cardano and Solana also experienced gains on Monday, with increases of 8% and 1%, respectively.
The rise of small-cap tokens, or meme coins, mirrored Bitcoin's rally. Dogecoin surged nearly 20%, while Shiba Inu rose by 34% in the last 24 hours.
$BTC $ADA $SOL
Bitcoin's current upward surge faces relatively few obstacles. The leading cryptocurrency has seen consecutive days of gains, edging closer to its previous peak, largely fueled by the anticipation of strong demand for exchange-traded funds (ETFs) at the beginning of the week.
Reaching as high as $65,010, its highest since November 2021, Bitcoin has shown remarkable resilience, although it retraced slightly to $64,917 by 8:28 a.m. London time.
The driving force behind this bullish momentum is the seemingly unquenchable appetite from US-listed Bitcoin ETFs, which commenced trading on January 11. Over the past year, Bitcoin has surged approximately 186%.
A substantial influx of $7.35 billion has poured into US Bitcoin ETFs since their introduction, attracting investments from major players like BlackRock Inc. and Fidelity Investments. Even substantial outflows, such as the nearly $9 billion from the Grayscale Bitcoin Trust since the ETFs' launch, have failed to deter traders.
Hayden Hughes, co-founder of social-trading platform Alpha Impact, remarked, "Given the low liquidity over the weekend, markets are moving north in anticipation that tonight’s ETF inflows will continue and prices will continue to rally."
Traders are optimistic about Bitcoin's price surpassing its previous record of almost $69,000, achieved during the Covid pandemic in November 2021. This optimism stems from the strong demand for ETFs and concerns about missing out before the upcoming Bitcoin halving expected in April. The halving, which cuts the reward for mining in half, could reduce the coin's supply growth, further intensifying demand.
Altcoins like Cardano and Solana also experienced gains on Monday, with increases of 8% and 1%, respectively.
The rise of small-cap tokens, or meme coins, mirrored Bitcoin's rally. Dogecoin surged nearly 20%, while Shiba Inu rose by 34% in the last 24 hours.
#write2earn Surging Trading Volumes: U.S. #BitcoinETF s Break Records #ETF #bitcoin #bullRun
$BTC
Trading volumes for the recently launched U.S. Bitcoin ETFs have surged to a new peak, more than doubling their previous high just days ago.
The United States spot Bitcoin exchange-traded funds (ETFs) have broken their own record for daily trading volumes, surpassing the previous milestone by over one and a half times.
On February 28, the ten ETFs collectively recorded a trading volume of $7.69 billion, as reported by Bloomberg ETF analyst James Seyffart.
This volume surge eclipses the previous record of $4.66 billion, which was observed on the launch day of these funds on January 11.
BlackRock's iShares Bitcoin ETF (IBIT) led the charge, accounting for 43.5% of the total volume, with $3.35 billion in trading volume, doubling its previous daily record. Remarkably, this figure is roughly equivalent to the total trading volume of all ten ETFs combined on the preceding day, February 27.
The Grayscale Bitcoin Trust (GBTC) came in second place with $1.86 billion in trading volume, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with $1.44 billion, doubling its volume record.
The combined volumes of GBTC and FBTC represent approximately 43% of the total trading volume.
According to Bloomberg analyst Eric Balchunas, the nine new ETFs, excluding Grayscale's, surpassed their previous record in just half a trading day. By the end of trading, they had doubled that volume record, reaching approximately $5.8 billion.
Balchunas also noted that the total number of trades doubled as well, exceeding half a million individual trades. Market makers attributed the surge in volume to "natural demand" rather than algorithmic or arbitrage trading.
This record-breaking volume day coincides with Bitcoin's rally of over 10%, reaching an over two-year high of $64,000. Although it retraced to as low as $60,000, it slightly recovered to trade above $62,000 at the time of reporting.
$BTC
Trading volumes for the recently launched U.S. Bitcoin ETFs have surged to a new peak, more than doubling their previous high just days ago.
The United States spot Bitcoin exchange-traded funds (ETFs) have broken their own record for daily trading volumes, surpassing the previous milestone by over one and a half times.
On February 28, the ten ETFs collectively recorded a trading volume of $7.69 billion, as reported by Bloomberg ETF analyst James Seyffart.
This volume surge eclipses the previous record of $4.66 billion, which was observed on the launch day of these funds on January 11.
BlackRock's iShares Bitcoin ETF (IBIT) led the charge, accounting for 43.5% of the total volume, with $3.35 billion in trading volume, doubling its previous daily record. Remarkably, this figure is roughly equivalent to the total trading volume of all ten ETFs combined on the preceding day, February 27.
The Grayscale Bitcoin Trust (GBTC) came in second place with $1.86 billion in trading volume, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with $1.44 billion, doubling its volume record.
The combined volumes of GBTC and FBTC represent approximately 43% of the total trading volume.
According to Bloomberg analyst Eric Balchunas, the nine new ETFs, excluding Grayscale's, surpassed their previous record in just half a trading day. By the end of trading, they had doubled that volume record, reaching approximately $5.8 billion.
Balchunas also noted that the total number of trades doubled as well, exceeding half a million individual trades. Market makers attributed the surge in volume to "natural demand" rather than algorithmic or arbitrage trading.
This record-breaking volume day coincides with Bitcoin's rally of over 10%, reaching an over two-year high of $64,000. Although it retraced to as low as $60,000, it slightly recovered to trade above $62,000 at the time of reporting.
Bitcoin at 4-month Highs 🚀 This has never happened historically while still in a Bear Cycle.
Still not convinced we're past the bottom??🔥 📈
#Binance #crypto2023 #bitcoin #btc #bullRun
Still not convinced we're past the bottom??🔥 📈
#Binance #crypto2023 #bitcoin #btc #bullRun
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Is this bull run or bull trap 🪤 ? Eth crossed $1700 level. May be in future eth cross btc both in volume and in price. #binancians #bullRun #bulltrap #crypto2023 #dyor
2023 is going to be great for everyone and everything is going to be green by god Grace
#bullish #bullMarket #bullRun
#bullish #bullMarket #bullRun
#write2earn #Bitcoin Hits $60,000: Surging Demand and Optimism Propel Crypto Rally #bullRun #BullishTrends #ATH.
$BTC
Bitcoin surged to $60,000, marking its highest value in over two years, driven by growing optimism that interest in the cryptocurrency is broadening beyond its core enthusiast base.
The cryptocurrency's value has already soared more than 40% since the beginning of the year, propelled partly by the successful introduction of US exchange-traded funds (ETFs) holding Bitcoin. These ETFs have attracted over $6 billion in investments since their launch on January 11. Bitcoin last reached $60,000 in November 2021, following its peak near $69,000 earlier that same month.
"It's quite astonishing," remarked Ryan Kim, head of derivatives at digital-asset prime brokerage FalconX.
An upcoming reduction in Bitcoin's supply growth, known as the halving, is contributing to the positive sentiment. This factor, coupled with an ongoing rally that has ignited speculative interest in various other tokens like Ether and Dogecoin, is fueling what some describe as a "fear of missing out" (FOMO) rally.
"We're witnessing a clear FOMO-driven rally," observed Zaheer Ebtikar, founder of crypto fund Split Capital. "More and more people are becoming convinced to invest."
Bitcoin is on track for its most significant monthly gain since December 2020, when it surged 50% to around $9,600. Its value has more than tripled since the beginning of last year, rebounding from a steep 64% decline in 2022. This remarkable resurgence follows a period of skepticism fueled by scandals and bankruptcies within the crypto industry.
Despite expectations for tighter monetary policy, reflected in rising US Treasury yields, digital tokens like Bitcoin continue to rally. Bitcoin has outperformed traditional assets such as stocks and gold in 2024.
$BTC
Bitcoin surged to $60,000, marking its highest value in over two years, driven by growing optimism that interest in the cryptocurrency is broadening beyond its core enthusiast base.
The cryptocurrency's value has already soared more than 40% since the beginning of the year, propelled partly by the successful introduction of US exchange-traded funds (ETFs) holding Bitcoin. These ETFs have attracted over $6 billion in investments since their launch on January 11. Bitcoin last reached $60,000 in November 2021, following its peak near $69,000 earlier that same month.
"It's quite astonishing," remarked Ryan Kim, head of derivatives at digital-asset prime brokerage FalconX.
An upcoming reduction in Bitcoin's supply growth, known as the halving, is contributing to the positive sentiment. This factor, coupled with an ongoing rally that has ignited speculative interest in various other tokens like Ether and Dogecoin, is fueling what some describe as a "fear of missing out" (FOMO) rally.
"We're witnessing a clear FOMO-driven rally," observed Zaheer Ebtikar, founder of crypto fund Split Capital. "More and more people are becoming convinced to invest."
Bitcoin is on track for its most significant monthly gain since December 2020, when it surged 50% to around $9,600. Its value has more than tripled since the beginning of last year, rebounding from a steep 64% decline in 2022. This remarkable resurgence follows a period of skepticism fueled by scandals and bankruptcies within the crypto industry.
Despite expectations for tighter monetary policy, reflected in rising US Treasury yields, digital tokens like Bitcoin continue to rally. Bitcoin has outperformed traditional assets such as stocks and gold in 2024.
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