Bitcoin continues its incredible surge upwards
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13.03.2024
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On Monday, it hit the $72,700 mark, following the approval of spot bitcoin ETF funds. But that's not all! The increased interest in the upcoming halving event is also further fueling the excitement around the first cryptocurrency.
Bitcoin continues its incredible surge upwards

Bitcoin continues its incredible surge upwards, surpassing one new high after another! On Monday, it hit the $72,700 mark, following the approval of spot bitcoin ETF funds. But that’s not all! The increased interest in the upcoming halving event is also further fueling the excitement around the first cryptocurrency.

Bitcoin is up 9.5% in the last week and as much as 50% in a month! The total cryptocurrency market has grown by 10% in that time to $2.71 trillion, and bitcoin accounts for more than half of that amount, holding 52.7%.┬áBut despite all the joy and hope, it’s worth remembering that indicators are also pointing to a possible approaching price top and an impending fall. CoinMarketCap’s Cryptocurrency Fear and Greed Index is at the “extreme greed” level at 89.12 points.

Regardless, bitcoin continues to attract the attention of both retail and institutional investors. In the last week, $2.6 billion has poured into the asset, and as much as $9.9 billion over the year.┬áRegardless of how high bitcoin rises before the upcoming event of halving its supply, there is no guarantee that the same trend will continue. However, historical data shows that bitcoin’s halving is helping to boost demand and prices for the cryptocurrency.

So, let’s keep an eye on price dynamics and market sentiment – because every news can be decisive for investors and cryptocurrency prices.