During the last few weeks the demand for#Bitcoinand other major Cryptocurrencies has skyrocketed, causing Billions of Millions to enter the#Cryptomarket
But why is there so much interest?
How could this affect the price? I'll explain it to you👇
One of the determining factors when it comes to whether or not to start a bull market is the entry of liquidity into the markets.
In the end this is simple, the more people are interested in buying, the more buying pressure is created which can drive prices up.
And it is inevitable to admit that interest in the Crypto market has skyrocketed recently.
Thanks to the expectation generated by the large investment funds that continue in their race to have the first Bitcoin#ETFSpot in US history
As is the case of the first leveraged Bitcoin ETF, known as BITX, which was launched less than a month ago in the US, accumulating more than 4 million volume in the first hours of trading.
🔸Or, for example, with the well-known ETPs, products traded on the Stock Exchange that replicate the value of a specific asset, and that group together both ETFs and ETNs or ETCs, investment products that are demonstrating that interest in Bitcoin is increasingly is older.
In fact, as reflected in research by k33, Bitcoin ETPs have managed to break the record for monthly inflow volume, with the Proshares BITO ETF, achieving an All-Time High of 4,425 Bitcoins of exposure.
A brutal figure, which is reaching levels of liquidity entry that we have not seen for a long, long time, specifically since 2021, when BTC was going through a great upward trend and no investor wanted to be left out.
🔸And although all of this is not currently being reflected in the price, it shows how investor confidence in#BTCis becoming higher and higher, representing a real alternative with which to not only have an investment with which to obtain great performance
But, in addition, it is becoming a refuge with which to support the wealth of investors in a decentralized way and escape from the liquidity problem of the banks, the devaluation that some of the main currencies are suffering, etc.
And this is something that even a candidate for US president, Robert Kennedy Jr., has stated.
That in order to stabilize the US economy and inflation, it has proposed supporting the dollar with other “Solid” assets, highlighting#Bitcoinas one of the Options 😎
Important data that continue to add up for the next bullish cycle, and that although they are not yet reflected in the price, will help global adoption to skyrocket in the future and the price to accompany it 👀