In the past week, Bitcoin has surged over 25%, reaching levels unseen since November 2021. Starting below $52,000, BTC surpassed $60,000 and settled at $62,800, slightly retracting from a peak of $64,000.
Analysts credit the surge to increased demand from U.S. investors, as evidenced by the Coinbase premium index hitting 0.13%, its highest since mid-February.
Larger entities, accumulating 1,000 to 10,000 BTC, have seen holdings rise to 3.975 million BTC, the highest since July 2022. Additionally, the fresh capital influx into the Bitcoin market has risen by 10%, representing 35% of the total capital invested.
Despite signs of a slight slowdown, the crypto market has maintained strong momentum in the past month. Bitcoin hovered around $62,000, showing resilience after surpassing $60,000 in February.
Strong investor confidence, as evidenced by the accumulation of BTC in the $60,000–$62,000 range, contributed to stability.
By March, the total market capitalization surpassed $2 trillion, reaching $2.34 trillion. Altcoins like Solana outperformed, indicating a diverse market ripe for investment.
Bull market indicators flashed early, suggesting potential for further growth. Although retail investors have yet to return fully, Google Trends data shows increasing interest in crypto. Overall, the outlook remains positive, with investors optimistic about continued growth.
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