Bitcoin surpasses $60,000, hitting a two-year high.
Key Takeaways
- Bitcoin surpasses $60,000, hitting its highest level since November 2021.
- Expectations for the Bitcoin halving event and massive investments in US-based spot Bitcoin ETFs are driving the price rally.
- In just two days, more than 22,000 Bitcoins were added to the ETF, with trading volume exceeding $2 billion. This reflects high investor confidence and market momentum.
Bitcoin (BTC) has surpassed the $60,000 mark.
The last time the Bitcoin price hit this high was in November 2021, when it fell to $19,297 by early April 2022.
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This surge is part of a broader trend seeing cryptocurrencies. It’s up 13% last week and 37% this month.
Recent price increases are largely related to surrounding expectations. Upcoming Bitcoin Halving Event, This typically leads to a surge in purchasing activity as supplies become tighter.
A rally was also sparked. Capital flows into US-based spot Bitcoin ETFs.
Amazingly, the fund added 10,000 bitcoins on Monday and 12,000 bitcoins on Tuesday. Bloomberg analyst Eric Balchunas emphasized: The total volume of nine spot Bitcoin ETFs exceeded $2 billion.
This marks a significant moment for the cryptocurrency sector, reflecting a strong upward trend driven by market expectations and notable investment inflows.
In other BTC-related news, Michael Saylor’s MicroStrategy expanded its Bitcoin portfolio by purchasing 3,000 more units of the digital currency.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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