Cryptocurrencies saw a surge on Monday, as the largest cryptocurrency by market capitalization, Bitcoin, broke through its main resistance level at $53,000.
| Cryptocurrency | Earnings +/- | Price (recorded at 9:30 pm EST) |
| Bitcoin Bitcoin/USD | +9.11% | $56,160 |
| Ethereum ETH/USD | +4.05% | $3,230 |
| Dogemoneta DOGE/USD | +5.36% | $0.089 |
What happened: Several factors are currently driving BTC price movement. These include continued spot inflows into Bitcoin ETFs, halving, and positive investor sentiment from both retail and institutional traders.
Bitcoin skyrocketed past $56,000 on Monday, reaching its highest price since November 2021.
Trading volumes for the “new nine” spot Bitcoin. exchange-traded funds (ETFs) hit a daily record on Monday. Trading volumes for the nine ETFs reached $2.4 billion, surpassing the previous record of $2.2 billion set on the first day of trading on January 11.
Among ETFs BlackRock IBIT It will go it raised the highest volume on February 26 with $1.29 billion. Following closely behind, Fidelity’s FBTC secured the second position with volume of $576 million.
Furthermore, the ARK 21Actions ARKB AND BITB bitwise BITB The ETFs recorded flows of $276 million and $81 million, respectively.
MicroStrategythe main business owner of Bitcoinsignificantly expanded its Bitcoin wallet by acquiring an additional 3,000 Bitcoins.
Best profit (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 9:30 pm EDT) |
| Theta Network FLR/USD | +39.39% | $2.08 |
| Stacks MNT/USD | +22.40% | $3.09 |
| Akash Network AR/USD | +17.90% | $4.73 |
The global cryptocurrency market capitalization now stands at $2.13 trillion, up 7.14% in the last 24 hours.
THE S&P500 fell on Monday, retreating from a recent record high reached last Friday, as investors awaited crucial inflation data. The index fell by 0.38% to 5,069.53, while the Nasdaq The composite also fell 0.13% to close at 15,976.25.
Treasury yields recorded a slight increase, putting further pressure on stocks. The yield on the 10-year Treasury note rose about a basis point to 4.276%.
In late afternoon trading, shares associated with the price of Bitcoin surged, coinciding with the cryptocurrency breaking above the $54,000 level for the first time since December 2021. Notably, Coinbase’s shares rose 16.85%, Microstrategy Inc jumped by 15.86%, e Riot control platforms AND Digital marathonthe largest bitcoin miners, recorded increases of 16% and 22% respectively.
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Analyst Notes: Cryptocurrency analyst Michael Van de Poppe said that shortly after the US Open, the price of Bitcoin rose to a new yearly high of $54,300.
“It took me by surprise, I suspected a corrective move and now I’m fast approaching my pre-halving target. What’s important this week? Preliminary GDP on Wednesday.”
According to crypto analyst Gart van Lagen, the price of BTC [1W] has been continuing its parabolic trajectory since November 22nd and is on track to reach $200,000 in the near future.
“This parabola, reaching $200,000, aligns perfectly with the pattern of previous fifth subwaves, all of which have historically intersected the blue trendline in a parabolic fashion. Will $BTC wait for the halving? The price has already risen significantly above the level 78.6% Fibonacci retracement level of the previous bear market, which in the past has only occurred after the halving. When it goes above 78.6%, the price immediately tends to take off in a parabolic fashion.”
Cryptocurrency analyst Caleopredicts that a $100,000 valuation for Bitcoin is inevitable.
“$100,000 $BTC is a magnet”
According to the on-chain analyst Ali Martinez, Bitcoin is showing a megaphone pattern on its daily chart. “If BTC maintains its position above $50,000, achieving a sustained close above $53,000 could be the catalyst for a rally towards $60,520!”
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