Bitcoin further achieved the milestone of exceeding $40,000, a momentous event that brought energy to the crypto environment. The intensity of the affair spurred investors to make around $23 billion in trades in the past 24 hours. The market is also very much swayed by $15 million in shorts that are being liquidated, implying that bullish sentiment is as strong as ever.
The SEC, short for U.S. Securities and Exchange Commission, actively talked with eight application groups to get a Bitcoin ETF, majoring on Grayscale. Coinbase was also a major presence, alongside other big names such as BlackRock, Hashdex, Bitwise, VanEck and Fidelity. Among concerns such as a fund’s monthly route and the probably different global regulations that may affect its standing were fervently deliberated.
The general head of MicroStrategy, Michael Sonnenshein, boosted this cheers further with its latest purchase of 16,130 BTC, breaking their record of holdings to a total amount of 174,530 BTC. This added to the already throbbing anticipation of Bitcoin’s halving event that will take place 141 days with a socio-economic consequence that are expected to bring in new rallies never seen before.
bitcoin ranked as the top cryptocurrency at press time. $41 billion were generated in 24-hour trading volume and capitalization at $778 billion. with an overall crypto market capitalization at $1.5 trillion generating a 24-hour trading volume of $40.8 billion and create a restraining effect at a congestion rate of 52.13%,
With these numerous developments in petiole, it appears that bitcoin is about to enter a completely new phase with potentials of incredible profits.
