Bitcoin (Cryptocurrency: BTC) rose 3.5% in the past 24 hours as market participants focused on record highs ahead of the Bitcoin halving event.
what happened:Bitcoin soared to a high of $72,777 in Monday morning trading and was trading at $71,700 at the time of writing.
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Ethereum (Crypto: ETH) is up 5.3% on the day, trading at $3,638.
Meanwhile, US crypto stocks are poised for a strong start this week.
especially, Coinbase Co., Ltd. (NASDAQ:COIN), the only publicly traded U.S.-based cryptocurrency exchange, rose 4.9% pre-market. micro strategy (NASDAQ:MSTR), known for its large holdings of Bitcoin, is up 5.2%.
moreover, blackrock bitcoin ETF (NASDAQ:IBIT) rose 6.6%.
This halving event is a pivotal moment that will halve Bitcoin mining rewards to 3.125 BTC per block, and is expected to further impact market dynamics.
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Also read: Why Ripple CEO Brad Garlinghouse predicts crypto market cap will reach $5 trillion in 2024
Why it's important: Monday's report highlights continued positive sentiment in digital asset investing, with inflows reaching a record $646 million last week, bringing the year-to-date total to an unprecedented $13.8 billion. did.
This beats the previous record of $10.6 billion in 2021.
Nevertheless, the report notes that ETF investors' appetite has waned, with weekly investment volumes falling compared to early March.
Investor sentiment varies widely by region, with the US, Brazil, Hong Kong and Germany seeing significant inflows, while Switzerland and Canada are facing outflows.
Bitcoin remains the biggest focus for investors, attracting $663 million in inflows, but Ethereum has seen outflows for the fourth week in a row, leaving altcoins such as Litecoin, Solana and Filecoin This is in contrast to the positive inflow to
what's next: These trends in the cryptocurrency market, particularly in the lead-up to Bitcoin's halving, will be a central theme at Benzinga's Future of Digital Assets conference on November 19th.
This event will delve into the impact of such a pivotal moment in the cryptocurrency space, exploring the broader impact on investment trends, market sentiment, and the evolving landscape of digital asset regulation and opportunities.
Read next: Memecoin Mania meets social media: BONSAI blossoms with Lens Protocol, raises $1 million
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