Bitcoin moves towards a daily close above $72,000

Bitcoin surges to a new all-time high, surpassing $72,000, according to CoinGecko. The cryptocurrency has managed to hold above the $70,000 mark and is now on track to close the day above $72,000. Analysts predict that this bullish trend could lead to a market top within the next 266 to 315 days, potentially reaching its peak in December 2024 or February 2025. The first two months of 10 spot BTC ETFs trading in the US have been a resounding success, with assets totaling over $55 billion and trading volume reaching $110 billion. BlackRock’s IBIT and Fidelity’s FBTC are among the top-performing ETFs by year-to-date flows. In addition, MicroStrategy has announced the purchase of 12,000 BTC at an average price of $68,477, adding to their impressive holdings of 205,000 BTC. Overall, Bitcoin continues to make significant strides in the market and attract interest from institutional investors.