China-Singapore Jingwei, March 6 Comprehensive foreign media reported that on the 5th local time, Bitcoin rose to a new high intraday, with a value of more than 6$90,000 (about $49.)660,000 RMB). Bitcoin has risen by more than 62% this year.
According to the analysis, Bitcoin's growth is mainly due to the demand for exchange-traded (ETFs) in the United States, as well as the imminent slowdown in the growth of the token, which has driven Bitcoin's phenomenal growth.
Ironically, Bitcoin's recovery is largely due to a regulator that has long been hostile to cryptocurrency: the U.S. Securities and Exchange Commission (SEC). In early January, the SEC approved Bitcoin spot ETFs after the SEC tried to veto such a type of ETF but failed legally.
These allow everyday investors to buy digital assets through a brokerage account without having to go to a cryptocurrency exchange or track Bitcoin through a contract. ETFs issued by heavyweight investment firms have seen a steady stream of money pour in, recording a net inflow of more than $7 billion in less than two months.
However, there was a big dive immediately after Bitcoin hit a new high, and it fell below 6$40,000.
Bitcoin** Au.g.am.A.
According to Coinglass data, with the sharp fluctuation of Bitcoin, more than 200,000 people on the whole network have liquidated their positions in cryptocurrencies within 24 hours, with a total amount of 7$300 million. The largest single stop out order occurred on Binance-BTCUSDT, worth 822$90,000. (Zhongxin Jingwei app).
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