Bitcoin Achieves New All-Time High Above $73,000

Bitcoin’s price has been on a remarkable upward trend, reaching over $73,000 on March 13, creating approximately 1,500 “millionaires” daily, according to data from Kaiko Research.

Institutional capital has been flooding the BTC market, driven by the approval of spot Bitcoin exchange-traded funds (ETFs). Independent investor HODL15Capital highlighted the significant inflows into spot Bitcoin ETFs, with a record $1 billion of net inflows on March 12.

The growing preference for direct exposure to Bitcoin through ETFs is evident, with spot Bitcoin ETFs now accounting for nearly 90% of the daily trading volume market share for ETFs offering exposure to BTC.

Kaiko Research’s report indicates that BTC’s latest rally, with the support of U.S. spot Bitcoin ETFs, is generating around 1,500 millionaire wallets daily, showcasing the increasing wealth accumulation in the cryptocurrency sector.

Analysts have optimistic projections for Bitcoin’s future price, with targets ranging from $100,000 to $350,000 by the end of 2024. Market participants anticipate the upcoming supply halving in April 2024 to further boost the price of Bitcoin.

It is important to note that this article does not offer investment advice. Readers are advised to conduct their own research before making any investment decisions.

For more news and updates on cryptocurrencies, investing, and finance, continue to explore Global Crypto News.

Post Views: 6