“BTC is the best! The year 2024 may be a new history for crypto .”
Cryptocurrency king Bitcoin (BTC) is a little closer to breaking its all-time highs when the price takes a hit rallied to $68,663 driven by spot BTC ETF inflows, the halving event plus investors' interest in the digital asset is growing.
The streak, investor sentiment turned on extreme greed as measured by the index Crypto Fear & Greed where the level of greed on March 3, 2024 was the highest seen since November 8, 2021.
There is no denying that there are many macroeconomic problems, but BTC price and open interest continue to rise and need to know BTCofficially set a new all-time high against the euro on March 4, 2024.
Through observation, BTC investment trading volume for the week before March 4, 2024 reached a record of over $30 billion while heavy trading volume continued on March 4 with 19.6 million BTC ETF BlackRock spot shares traded in the first hour of market opening.
Please note that institutional investors also pushed $7.6 billion into crypto during this follow-up period over $1.8 billion has flowed into digital asset investment products by institutional investors in the past week.
Of the $7.6 billion put into crypto funds in 2024, over $7.3 billion flowed into BTC specifically where total assets under management (AUM) for BTC dwarfs other digital assets with $62.71 billion currently in use.
Not only that, the number wallet BTC holding a non-zero amount of BTC remains above 51 million for the entire year 2024 while available more BTC wallets than before and almost all addresses are profitable.
As of this writing, BTC price has surged by 7.47% to $68,542 in the past 24 hours with a market capitalization of over $1 trillion and has climbed 25.17% over the past week.
