- BlackRock IBIT hits report at $1.3 billion, Bitcoin tops $57,000
- BTC might attain or exceed all-time highs earlier than halving
Bitcoin's pre-halving rally introduced the lead cryptocurrency to $57,000, simply inside 20% of its 2021 all-time excessive of $69,000.
After breaking by means of the $54,000 degree, Bitcoin costs prolonged their beneficial properties to above $57,000 late Monday. On Coinbase, BTC rose to his $57,250, bringing his whole quick curiosity to $271 million. Bitcoin accounted for $189 million of the liquidated shorts.
Shorts of over $67.8 million had been additionally liquidated as Ethereum surged to a excessive of $3,280.
Nevertheless, altcoins have largely been on the sidelines of Bitcoin's bull present. Market intelligence platform Santiment share That is X Tuesday morning.
“#Bitcoin at present has a market worth of $57,250, inside 19.9% of the all-time excessive of $68,600 established 27 months in the past. Dealer curiosity in $BTC is extraordinarily excessive at a vital time.”
BlackRock's IBIT trades $1 billion price of shares
Bitcoin’s rally coincided with the spectacular efficiency of spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Belief ($IBIT) outperforming the remaining. $IBIT accounted for $1.3 billion of the $2.4 billion in whole buying and selling quantity recorded on Monday, in line with Bloomberg ETF analyst Eric Balchunas.
It's official… The brand new 9 Bitcoin ETF at present broke an all-time excessive report with $2.4 billion, barely surpassing its opening day, however about double its current every day common. $IBIT It accounted for $1.3 billion of that, beating that report by about 30%. pic.twitter.com/MiCs1rzttM
— Eric Balchunas (@EricBalchunas) February 26, 2024
The upward momentum additionally adopted the information that MicroStrategy bought 3,000 BTC, totaling 193,000 BTC for a complete worth of $6.09 billion. The corporate’s most up-to-date BTC buy was $155 million.
Bitcoin was buying and selling round $56,430 early Tuesday morning.
