Crypto Stocks Advance Pre-Market as Bitcoin Tops $51K, Market Cap Hits 26-Month High
Submitted by Anonymous (not verified) on Wed, 02/14/2024 - 13:40Total crypto market cap climbed to $2 trillion for the first time since April 2022.
Total crypto market cap climbed to $2 trillion for the first time since April 2022.
Excluding Grayscale's Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live.
Some traders are targeting the $64,000 level in the coming weeks as demand from spot bitcoin exchange-traded fund (ETF) products grows.
In the last 24 hours, Bitcoin soared to a 2-year peak, briefly breaking the $50,000 barrier.
While notional open interest has surged, the overall leverage build-up is still relatively low.
On-chain data shows the Bitcoin outflows from cryptocurrency exchange Coinbase have surged recently, a sign that could be bullish for BTC.
An interest rate cut isn't likely on the table, but risk assets are doing just fine
Bitcoin, the world’s largest cryptocurrency asset by market cap, is in the spotlight.
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