Amid the ETF boom and the expectation of a "halving", bullish optimism is heating up dramatically ......
On Wednesday, Bitcoin briefly stood above $60,000Enthusiasm for the world's largest cryptocurrency seems to have reached the level of the boom in 2021.
This digital asset is up more than 15% this week and 40% so far this yearThe main reason is likely to be the excitement sparked by a series of Bitcoin spot ETFs that started trading in January, as well as the upcoming "halving"., i.e., the amount of new bitcoins added will be halved, which is often seen as a catalyst for bitcoin's **large**.
According to the latest data, Bitcoin rose more than 5% in a day, once standing above $60,000, a new high since November 2021 and the fifth consecutive day**.
Ryan Rasmussen, senior crypto research analyst at Bitwise Asset Management, said, "What we're seeing is that cryptocurrencies are rising from the ashes of the market in 2022, and our assumption is that,By the end of 2025, Bitcoin's ** will reach 12$50,000
So far this year,Ethereum, the second-largest cryptocurrency, outperformed Bitcoin by more than 10%., whileThe total market capitalization of all crypto assets increased by about 30% to 2$15 trillion.
One reason for the enthusiasm for Bitcoin is that the Bitcoin spot ETF, which went public in January this year, has made the digital asset widely accessible to ordinary investors. Data collected by Farside Investors, a London-based company, showed that as of Tuesday,The net inflows of these** have exceeded $6 billion
MicroStrategy announced Monday morning that it had bought another 3,000 bitcoins, bringing its total investment to 193,000 bitcoins, which were worth about $11 billion as of Tuesday.
Christopher Newhouse, an analyst at Cumberland Labs, saidDerivatives traders are now jumping on board and chasing Bitcoin's rally.
According to crypto derivatives data provider Coinglass,There are about $24 billion in undelivered contracts in the Bitcoin market, surpassing the all-time high set in April 2021。Newhouse added, "In the options market, the situation is clear and people are optimistic. ”
Matthew Sigel, head of digital asset research at Vaneck Associates, said, "We see evidence of high interest in Bitcoin from ** and institutional investors, and history shows that steeper, more violent rallies are to be expected. ”