The virtual currency Bitcoin exceeded $57,000 in trading on the 27th, Asian time, for the first time since late 2021. In addition to increased purchases by corporate software maker MicroStrategy, demand from exchange-traded funds (ETFs) boosted demand.
Bitcoin briefly rose 4.4% to $57,039. Since then, the rate of increase has narrowed slightly, and as of 10:22 a.m. Singapore time (11:22 a.m. Japan time), it is trading at $56,473. Bitcoin has continued to rise this year, gaining 33% year-to-date. Along with this, speculative demand for Ether and Binance Coin (BNB) has also arisen.
Nine ETFs that began trading in the US on January 11 of this year saw a total net inflow of $5.6 billion (approximately 843 billion yen), showing that demand for Bitcoin has spread beyond core digital asset investors. It was suggested that The impending “halving” also supports optimism.
What is Bitcoin “halving” and will it lead to a price increase? – QuickTake
MicroStrategy, which has made purchasing Bitcoin a part of its corporate strategy, announced on the 26th that it had purchased approximately 3,000 additional Bitcoins this month. The company’s total holdings reached approximately $10 billion.
“Given Bitcoin’s breakout and medium-term upward momentum, we don’t see a major downside correction,” Katie Stockton, founder of Fairlead Strategies, a research firm specializing in technical analysis, said in a note. I didn’t expect it.”
Original title:Bitcoin Tops $57,000 Price Level for First Time Since Late 2021(excerpt)