Bitcoin soars over 60% so far in 2024. What's next?
ETFs.
Bitcoin's price surged from $42,265 on January 1, 2024, to $68,537 on March 4, 2024. This surge represents a nearly 62% increase.
«Bitcoin surged above the $68,500 level with positive sentiment across the market with institutional demand, spot Bitcoin ETFs growth, and the approaching halving event. Bitcoin’s dominance has increased to 53%. The global market cap also saw a 5% increase over the past day. If this trend continues, we are likely to see Bitcoin hitting its all-time high any time now,» said Edul Patel, CEO of Mudrex.
After hitting the $68,000 mark, it has seen some corrections. At 11:38 am on Tuesday, Bitcoin was trading 5.4% higher at $66,856. it is now only 3.2% away from the all-time peak of $68,999.99 it set in November 2021.
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View Details»Net flows into the 10 largest U.S. spot bitcoin funds reached $2.17 billion in the week to March 1, with more than half of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data.
Following the rally in cryptocurrencies, leading global crypto investment platforms also witnessed a major rise in trading volume.
CEO of Mudrex Edul Patel said, «At Mudrex, we have seen a 192% increase in trading volume from December to January and a 270% increase in January to February. In March, we observed 3x growth in trading volume.»
Meanwhile, when talking about a further
