SINGAPORE (Reuters) – Cryptocurrency Bitcoin rose to a two-year high in Asian trading on Wednesday, hitting $3,200 for the first time in two years. Bitcoin rose more than 10% in two sessions, helping crypto investors and software developer MicroStrategy ( MSTR.O ) buy nearly 3,000 bitcoins for $155 million on Monday.
The largest cryptocurrency in domestic financing and the market recently rose due to the approval of exchange-traded funds (ETFs) that hold btc in the United States. Trading volume for some currencies rose on Monday, such as cryptocurrency-related businesses. Bitcoin Asia reached $57,036 in the morning, the highest level since the end of 2021. Ethereum rose to $3,275, the highest since April 2022.
“Despite tight supply, demand for US ETFs remains strong,” said Justin Dennison, head of Asia partnerships at Key Rock.
Will Bitcoin Trade Below $55,000 For The First Time Since November 2021?
Bitcoin BTC price fell 8.63% to $55,000 for the first time in 27 months. The world’s largest cryptocurrency traded at $54,900 as of 3 p.m. – Average increase of 6% during the day. According to the block price page, the price will drop to $54,600 in the next hour on Monday EST. This is the highest since November
This move is interesting given the recent drop in BTC spot trading volume. Rebecca Stevens, senior researcher at The Block, pointed to the seven-day moving average of Bitcoin’s price since Ethereum started to increase its volume on February 15. CME Mutual Fund has $3.83 billion of open short interest in the futures market. But long-term shareholders’ equity – the amount of money that is available on the exchange – reached $3.58 billion. Stevens said that btc instant adoption increased at the beginning of the week, compared to the price of bitcoin, but he added that institutional betting with bitcoin is not always easy. – beginning.
Blog By:- ExpertSadar
