What is the Source of the Latest Rise in Bitcoin? Will there be a sequel?

Leading cryptocurrency Bitcoin While it broke the record by exceeding $ 57,000, behind this rise spot Bitcoin ETFIt is thought that there were strong entries in .

At this point, analysts and investors BTC Spot ETFs started the week strongly, recording an inflow of $520 million on Monday.

The massive inflow into ETFs came after bulls turned bullish on Bitcoin and It caused BTC price to rise above $57,000.

This rise is also due to institutional Bitcoin whale MicroStrategy It comes after it announced the purchase of 3,000 additional BTC in February. With this latest acquisition, the company’s Bitcoin assets reached 193,000.

Speaking to Coindesk as bullish sentiment continues to grow in BTC, Lolli founder Alex Adelman said that Bitcoin is strongly in a “new bull market” and could see a significant rise as the expected halving event approaches.

“Bitcoin’s recent rally signals the actual start of a new bull market.

The significant price movements seen in Bitcoin are due entirely to positive market sentiment and persistent Bitcoin ETF inflows, with the daily rally reaching new daily highs.

“Bitcoin halving is just over a month away, which historically brings price increases, Bitcoin is in for a massive upswing.”

Bitcoin At the time of writing, it continues to be traded at $ 56,273.

*This is not investment advice.

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