Summary
TLDR: Bitcoin has surged to a new all-time high above $69,000 as investors rush back into the market. The catalyst for this rally is the approval and launch of 10 spot Bitcoin ETFs, leading to increased interest from big investors and major Wall Street firms. Billions have flowed into Bitcoin ETFs, resulting in a rush of fresh capital flooding the market. With more seasoned investors involved this time, the duration of the bull run remains uncertain.
Key Points
1. Bitcoin has reached a new all-time high price above $69,000, with a 4% 24-hour rise and a 58% increase over the past 30 days.
2. The approval and successful launch of 10 spot Bitcoin ETFs have been a significant catalyst for the recent bull run in Bitcoin, attracting big investors and major Wall Street firms.
3. Bitcoin ETFs have resulted in a rush of fresh capital flooding the crypto market, with billions flowing into these products, driven by interest from retail investors and more seasoned investors like BlackRock and Fidelity.