Bitcoin (BTC) has reached a milestone, hitting $38,000, marking its highest level since May 2022. Over the past week, the leading crypto has witnessed a 7% surge, and its 30-day gains stand at an impressive 10%.
Investor interest in the crypto markets is on the rise, notably among major digital asset funds. This renewed enthusiasm is fueled by expectations surrounding the potential approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States. The prospect of a regulated Bitcoin ETF could attract traditional investors to the crypto space.
Last week, crypto products experienced a substantial influx of funds, with $176 million in inflows, according to data from CoinShares. This signals a growing interest and confidence in the crypto market.
In tandem with Bitcoin’s surge, Ethereum, the second-largest crypto, also reached a significant milestone. Ethereum touched an 18-month high, peaking at nearly $2,131 before settling around $2,121. This surge represents a remarkable 17% gain in the last 30 days, reversing a previous downward trend.
