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Bitcoin Reaches Historic High, Surpassing $112,000

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by Giorgi Kostiuk

6 hours ago


Bitcoin continues to show remarkable momentum by hitting a historic high, generating significant interest from institutional investors. This event has been supported by several factors, including the surge in ETF purchases.

Bitcoin's Surge and Institutional Investment

Recently, Bitcoin surpassed the $112,000 mark, overtaking Google’s parent company in market capitalization. The market indicated a clear state of 'Greed', with the Fear & Greed Index reaching 71. Analyst Timothy Peterson noted the significance of this rally, suggesting that, had it not happened, the market might have stalled until October. Over $465 million in short positions were liquidated within just 24 hours.

ETF Market and BlackRock's Influence

Net inflows into spot Bitcoin ETFs have exceeded $50 billion, with BlackRock's ETF alone holding over 700,000 BTC. This institutional surge not only highlights a trend but is fundamentally reshaping the Bitcoin market. According to Farside Investors, over $1.04 billion flowed into ETFs in July alone, reflecting the increasing interest in Bitcoin as an asset.

Altcoin Outlook and Bitcoin's Strength

With Bitcoin in the spotlight, altcoins are also starting to gain traction. Ethereum has surged past $2,770 and is pushing towards the $3,000 mark. The overall crypto market is gaining momentum due to the discussions around the CLARITY Act and the potential cuts in interest rates by the Federal Reserve. This creates a favorable condition for further rises in both Bitcoin and altcoins.

The current positioning of Bitcoin and the activation of institutional buying provide optimistic expectations for the market. With favorable macroeconomic conditions, the price could rise to $150,000. Institutions and corporate assets actively support the ongoing growth cycle despite global economic uncertainties.

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