Driven by the continuous influx of spot ETFs approved by the United States at the beginning of the year and incentive funds, Bitcoin broke through the $64,000 level again in Asia on Monday (4th), further moving towards the highest level in history. It is worth noting that the total market capitalization of cryptocurrencies also broke through 2$5 trillion.
Coindesk** showed that Bitcoin hit a high of 64,270 in Asian trading on the 4th$88, the highest since the end of 2021 and from the all-time high of 68,990 in November 2021$90 and about 7%. As of 1:45 p.m. on the 4th, Bitcoin was 63,357$06, compared to 24 hours ago**216%。
Reuters and Livemint reported that bitcoin's market capitalization has swelled by 50% year-to-date, with most of the gains coming in the past few weeks, during which time there has been a surge in the trading volume of bitcoin spot ETFs listed in the United States.
Earlier this year, the U.S. Securities and Exchange Commission (SEC) approved 11-document Bitcoin spot ETFs, opening a new door for large institutional investors to participate in the cryptocurrency market and rekindling market enthusiasm, similar to the trend of Bitcoin soaring all the way to all-time highs in 2021.
Ether has also jumped high on the back of an opportunity for spot ETFs to follow the approved incentive, surging 50% year-to-date to $3,490 on Monday, close to the two-year peak written last week.
The overall cryptocurrency market cap also exceeded 2$5 trillion. CoinMarketCap data shows that as of 1:45 pm on the 4th, the total market capitalization of cryptocurrencies came to 2$38 trillion, up 146%。The turnover in the past 24 hours was $110 billion, an increase of 2828%。
barchart.com pointed out through the social platform X on the 3rd that Google Trends search trends show that ** interest in Bitcoin is still significantly lower than in the crazy period of 2021.
retail interest in bitcoin$btcis still significantly lower than it was during the mania of 2021pic.twitter.com/pwmwm5frdi(Header**: Shutterstock).barchart (@barchart)march 4, 2024