Bitcoin recently surpassed the $72,000 mark, marking a significant milestone in its rally, with gains nearing 70% for the year. This surge is attributed to substantial inflows into US exchange-traded funds (ETFs). The original cryptocurrency's value peaked at $72,880 before a slight retreat, while other tokens like Ether, Solana, and Avalanche also saw gains. Despite mixed equities, Bitcoin's rise continued, reflecting a prevailing risk-on sentiment among traders.
Investors have injected nearly $10 billion into new Bitcoin ETFs since their US debut two months ago, propelling a broader crypto market surge. Furthermore, bullish signals abound, including the London Stock Exchange's acceptance of Bitcoin and Ether exchange-traded notes applications and Thailand's approval for retail investors to purchase overseas crypto ETFs. These developments, coupled with the upcoming Bitcoin halving in April, underscore the growing institutional and retail interest in digital assets.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
