Bitcoin has reached a historic quarterly close of $107,149, demonstrating strong growth after falling earlier in the year.
Factors Behind Bitcoin's Growth
April saw Bitcoin climb by 14.11%, followed by an 11.11% increase in May. Although June's growth was milder at 2.4%, it significantly contributed to Bitcoin's historic quarterly performance. Cumulative gains reflect an upward trajectory, reinforcing Bitcoin's position as the leading cryptocurrency.
Proximity to New Records
In May, Bitcoin struck a new all-time high at $112,000 and currently remains close to this mark at around $107,000. This proximity incites speculation among investors about the possibility of setting a new record, resulting in increased market interest.
Institutional Interest in ETFs
A driving factor behind Bitcoin's strong performance is the substantial interest from institutional players, particularly in the context of spot Bitcoin ETFs. Spot Bitcoin ETFs have seen net inflows for an impressive 15 days in succession, indicating market confidence and price support.
Current trends in Bitcoin's market performance paint a picture of strong optimism and sustained momentum, backed by significant investment interest, which may soon see Bitcoin reaching new heights.
