In a not-so unexpected turn of events, Bitcoin (BTC) has surged to new heights, breaking the $57,000 barrier during the early hours of Tuesday in the Asian market. This price level, not seen since November 2021, marks a significant resurgence for the leading cryptocurrency.
Bitcoin ETFs Experience Unprecedented Activity
Remarkably, the surge in Bitcoin’s price has triggered substantial activity in US-based spot Bitcoin ETFs, excluding Grayscale’s GBTC. According to Bloomberg, these ETFs recorded a record-high $2.4 billion in trading volume on Monday. This surge in trading activity underscores the increasing interest and involvement of institutional investors in the cryptocurrency market.
As of the time of publication, bitcoin had slightly decreased to $56,437, but it was still up about 10% from the previous day. Since the beginning of the year, the price of bitcoin has risen by more than 30%, continuing a protracted surge that has also spurred interest in smaller curr
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