Strong surge in Bitcoin, will it break the high record once again?
Bitcoin has surged, driven by increased institutional investment and strong inflows into spot Bitcoin ETFs. It has surged nearly 20% from its February lows of $60,000 to near $72,000, creating a positive sentiment across the crypto market.
The cryptocurrency Bitcoin is once again experiencing a surge. Rebounding from its February low of around $60,000, Bitcoin has gained nearly 20%, trading at around $72,800 on Thursday.
This surge has been driven by increased institutional investment in the market. Bitcoin has gained approximately 7.5% in the past 24 hours. Ethereum also gained approximately 9%, reaching around $2,138.
Major altcoins including BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid have also recorded gains of over 8%. The total market cap of the crypto market has increased by approximately 6.31% to reach $2.46 trillion.
Gradual return to the market after correction
According to Riya Sehgal, research analyst at Delta Exchange, the crypto market is now showing a gradual recovery after the decline at the beginning of the year. However, investor confidence has not yet fully recovered.
She says that approximately 43% of Bitcoin is still held by investors who are incurring losses. This could lead to occasional selling pressure. However, if the price holds strongly above $75,000, the path to $78,000 to $80,000 could open.
Investment in ETFs and institutional demand provided support
According to experts, the recent rally is largely due to increased investment in spot Bitcoin ETFs in the US. Renewed interest from large institutional investors has helped push prices to a one-month high.
Bitcoin has gained nearly 6% and Ethereum nearly 3% over the past week. Some altcoins, such as BNB, Solana, and Hyperliquid, have seen gains of over 12%. Meanwhile, XRP, Tron, Dogecoin, and Cardano have seen slight declines.
What the experts are saying
Analysts at crypto exchanges say that risk appetite is increasing in the market, and institutional investment flows are also strengthening. On-chain data suggests the market is far from overheating, suggesting further upside potential.
According to industry data, hundreds of millions of dollars in new investments have flowed into spot Bitcoin ETFs since early March.
This appears to strengthen the market structure. However, experts believe that volatility in the crypto market may persist due to macroeconomic conditions and global events.