Cryptocurrencies have already "attracted" $10.3 billion this year, approaching the full-year $10.6 billion in 2021. Bitcoin has reached a market value of over $72,000, surpassing silver.

Zhitong
2024.03.11 23:41
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Cryptocurrencies have attracted $10.3 billion in investments this year, close to the $10.6 billion for the entire year of 2021, with Bitcoin's market value surpassing that of silver. According to data from the cryptocurrency research firm CoinShares International, investors' interest has driven tens of billions of dollars into crypto assets, with the majority flowing into Bitcoin. The price of Bitcoin has risen for six consecutive days, breaking through $72,000, with a total market value exceeding $1.4 trillion, ranking it as the eighth largest asset globally. Positive factors include the approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission and the upcoming "halving" event. Spot Bitcoin ETFs launched by institutions such as BlackRock and Fidelity Investments have attracted a large influx of funds into crypto assets. Short positions on Bitcoin are still increasing, with investors hedging against the risk of a pullback.