According to SMS, Bitcoin's market capitalization has exceeded $1 trillion - this is the highest figure in the last two years. The leading cryptocurrency is showing phenomenal weekly growth of 17%, adding to its value by an average of more than 1.5% per day. As of today, Bitcoin has again rewritten the highs of the year and reached a height of $52,500.
The reason for such euphoria is clear; the daily influx of capital into the spot Bitcoin ETF simply leaves no other choice. They buy $500 million worth of cue ball a day, which is more than it is mined.
What’s interesting is that if you look at Glassnode’s metrics, you can see that now it’s mostly short-term owners who are selling Bitcoin, while large wallets are buying, on the contrary.
Another point: Robinhood's CFO noted that only 5% of users' cryptocurrency transactions occur through BTC-ETFs, while the remaining 95% prefer direct BTC spot trading. And this is a very good signal; you can forget about the control of Bitcoin by funds for now.
No analyst will tell you what it will be like tomorrow, only you can think about it. If there is a reversal tomorrow, and you have USDT, then on the one hand you have taken a profit, and on the other hand you have money to buy something additional.
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