Key Points
This surge is part of a larger trend, with a 42% price increase in February alone, marking its most significant monthly gain since December 2020..
This momentum underscores the growing interest and capital inflow into the cryptocurrency market, particularly into new US spot bitcoin exchange-traded products (ETFs)...
"Bitcoin is being driven by the support of consistent inflows into the new spot ETFs and outlook for April's halving event and June's Fed interest rate cuts," notes Ben Laidler, a strategist at eToro.. has significantly impacted the market, with major funds like those run by. , Fidelity, and BlackRock witnessing surges in trading volumes..
In fact, this week, shares in the three most popular bitcoin ETFs have seen a dramatic increase, signaling a heightened interest in cryptocurrency investment vehicles...
Antoni Trenchev, co-founder of Nexo, highlights the market's potential: "If $60,000 doesnt whet the appetite, consider that 70% of bitcoin supply has remained unmoved for a year.".
