Bitcoin Surges Over 4% in 24 Hours, Breaking $31,000 Mark for the First Time Since July
The world's largest digital asset is on a roll, up over 10% in the past week, currently trading at $31,203. The global cryptocurrency market capitalization is at a staggering $1.22 trillion, up by 3.7% in the last 24 hours.
Analysts are buzzing with bullish signals:
GBTC discount narrowing, signaling optimism for a spot bitcoin ETF approval in Q1 2024.
Bitcoin is de-correlating from altcoins, becoming a digital gold and market hedge.
Bitcoin's dominance metric is on the rise, outperforming other cryptocurrencies.
All this while major stock indices are at 10-month lows and Treasury yields pass 5%. However, some caution that bitcoin's correlation with traditional markets may not be over just yet.
Stay tuned for more updates on this exciting crypto journey #bitcoin #BTC #crypto2023 #DigitalGold