Bitcoin (BTC) has crossed the $50,000 threshold, the highest level since 2021, causing an upheaval in the market and drawing the interest of investors worldwide. This rise is attributable to large money inflows into Bitcoin ETFs, a bullish options market, and supportive trends in the futures market.
At press time, BTC was trading at $49,763, up 3.40% from the intra-day low. Concurrently, the market capitalization and 24-hour trading volume surged by 3.37% and 53.93% respectively to $975,622,225,763 and $31,647,716,268.
BTC/USD 1-day price chart
Bitcoin ETF Inflows Boost Confidence
The main force that propelled Bitcoin to go beyond the $50K is the huge amount of money pouring into spot Bitcoin ETFs. Last week, the market saw new funds of over $1.1 billion in bitcoin ETFs. This change illustrates an increasing inclination of institutional traders towards Bitcoin, largely boosted by the superior liquidity of ETFs for adding Bitcoin to a mainstream portfolio. Bernstein analysts Gautam Ch
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