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.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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