Bitcoin (BTC) surged past the $57,000 mark during early Tuesday hours in the Asian market, marking a notable resurgence for the cryptocurrency.
The surge in Bitcoin's price triggered significant activity in US-based spot Bitcoin ETFs, excluding Grayscale's GBTC. These ETFs saw a record-high $2.4 billion in trading volume on Monday, underlining the growing interest of institutional investors in the cryptocurrency market.
Approximately $5.6 billion has poured into recently launched Bitcoin ETFs in the US since January 11, indicating broadening interest in Bitcoin beyond traditional digital asset enthusiasts.
Bitcoin's rally outpaces traditional assets like stocks and gold, with the ratio of Bitcoin's price to gold reaching its highest level in over two years.
The overall value of digital assets has surged to $2.2 trillion, showcasing their growing prominence in the financial landscape.
BTCUSD trading at $55,799 on the daily chart: TradingView.com
Despite a rise in US Treasury yields, signaling expectations for tighter monetary policy, the bullish momentum in the cryptocurrency market remains resilient.
MicroStrategy, known for incorporating Bitcoin into its corporate strategy, purchased an additional 3,000 Bitcoin tokens this month, boosting its total Bitcoin holdings to approximately $10 billion.
The surge in Bitcoin's price and trading activity in Bitcoin ETFs reflect growing institutional interest. However, the resilience of the cryptocurrency market against traditional indicators raises questions about its sustainability.
May 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiBitcoin tumbles to near $57,000, entering a bear market after a turbulent April. Halving event fails to spark rally; Hong Kong ETF debuts disappoint. US market struggles with outflows from Grayscale and Fidelity.
Xu LinRipple contests SEC's hefty $2 billion fine with a proposed $10 million settlement, emphasizing compliance changes and lack of investor harm.
SanyaBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceA trader turned $900 into $3.47 million in five days by trading Solana's meme token ANALOS, achieving a profit over 3,800 times their initial investment.
AlexMATIC, mata uang kripto asli Polygon, baru-baru ini mendapatkan daya tarik, menunjukkan peningkatan lonjakan harga sebesar 50% dalam 20 hari terakhir, di tengah tren optimisme yang melingkupi pasar mata uang kripto karena reli Uptober yang baru saja berakhir.
BitcoinworldMenurut Breedlove, modelnya menempatkan Bitcoin untuk diperdagangkan pada $12,5 juta pada tahun 2031, nilai yang setara dengan $1 juta berdasarkan daya beli saat ini.
Finbold
NulltxTim Crema Finance menghadiahkan peretas yang menghasilkan hampir $10 juta dana dari protokol 16,7% dari dana yang dicuri sebagai hadiah topi putih.
CointelegraphIndeks dolar AS dapat menguat lebih lanjut dalam beberapa minggu mendatang, yang biasanya merupakan berita buruk bagi Bitcoin.
Cointelegraph