Bitcoin (BTC) recently hit a new all-time high of $73,650 on March 11, driven by strong demand for spot Bitcoin exchange-traded funds. Data reveals a record of over $1 billion in inflows into Bitcoin ETFs on March 12.

The demand for Bitcoin ETFs surpasses the newly mined Bitcoin supply in 2024, with more than 330,000 Bitcoin acquired by the two largest Bitcoin ETFs compared to around 65,500 Bitcoin mined in 2024. This high demand is expected to support Bitcoin’s price, with analysts predicting a target of $150,000 by mid-2025.

While the market is bullish, corrections are inevitable in any bull market. Sentiment can change quickly, especially if a pullback occurs. Data indicates that 100% of Bitcoin holders are currently in profit, which could lead to a sell-off if Bitcoin breaks below crucial near-term support levels.

As Bitcoin continues its rally, it’s important to keep an eye on other top cryptocurrencies. Let’s analyze the price movements of Ether (ETH), BNB (BNB), Solana (SOL), XRP (XRP), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), Avalanche (AVAX), and Toncoin (TON) to gain insights into the broader market trends.

Remember, this article is for informational purposes only and does not offer investment advice. It’s always recommended to do your research and analysis before making any investment decisions. Explore more news and updates on Global Crypto News.

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