Bitcoin's value has surpassed the past $66,000 mark, inching closer to surpassing the previous record. This rally coincides with the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US, a move that has welcomed a large wave of investors and reignited the enthusiasm seen at its peak in 2021. There is.
Markus Thielen of 10x Research in Singapore said:Investor confidence appears to be growing as Bitcoin rises, and capital inflows show no signs of slowing down.„
Ethereum, Bitcoin's smaller counterpart, also experienced a notable increase. Ethereum’s value is fueled by speculation around its potential ETFs; 50% year to date. Despite some setbacks, prices remain near two-year highs.
The cryptocurrency's rise coincides with broader gains in global markets, including record performances for Japan's Nikkei Stock Average and the US S&P 500 and Nasdaq indexes. Brent Donnelly of Spectra Markets said:In a bullish environment where the Nasdaq thrives, cryptocurrencies are also expected to thrive as Bitcoin reflects the high-stakes energy of tech investing.”