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Recent data reveals a striking trend in Bitcoin investment, with the introduction of ten spot Bitcoin ETFs in the U.S. on January 11 playing a pivotal role. CryptoQuant’s latest analysis shows that these ETFs account for a whopping 75% of new inflows into Bitcoin, excluding Grayscale’s Bitcoin Trust. This surge in ETF-driven investment has contributed to an impressive 2% increase in Bitcoin’s total historical investment within just a month, according to the realized market capitalization data.
Bitcoin’s price witnessed a significant rise, hitting $52,354 after a 1.8% increase and achieving a two-year high of $51,000 on February 14, which boosted its market capitalization to over $1 trillion for the first time since November 2021. The total cryptocurrency market cap also saw a rise, reaching $1.96 trillion. Insights from CryptoQuant attribute the price increase to the high demand for spot Bitcoin ETFs, particularly highlighting the substantial inflows into BlackRock’s iShares Bitcoin ETF. With the momentum gained, projections from CryptoQuant suggest Bitcoin could soon reach a new milestone of $56,000, underscoring the optimistic outlook for Bitcoin’s market trajectory without immediate risks of a significant downturn.
