- Bitcoin broke past the $27,000 barrier, triggering market optimism.
- Analysts suggested that potential Bitcoin spot ETF approval could boost market cap by $1 trillion.
After a prolonged wait, Bitcoin [BTC] finally surged past the critical $27,000 price threshold, an event that sparked excitement among traders and long-term holders alike. It wasn’t just the break above this significant resistance level that fueled optimism, the much-anticipated approval of Bitcoin exchange-traded funds (ETFs) added another layer of enthusiasm to the market.
Read Bitcoin’s Price Prediction 2023-2024
Make it a trillion
Furthermore, an analysis from CryptoQuant suggested that the potential approval of Bitcoin spot ETFs could contribute a staggering $1 trillion to Bitcoin’s market capitalization.
This analysis anticipated that approximately $155 billion could flow into the BTC market once these ETFs are granted approval.
To put these figures into perspective, it’s important to recognize the scale of traditional finance that Bitcoin is set to tap into. The companies responsible for these ETFs have a combined total Assets Under Management (AUM) of around $15.6 trillion.
A mere allocation of 1% of their AUM into Bitcoin ETFs could inject nearly $155 billion into the market, representing nearly one-third of the king coin’s current market capitalization.
Source: Crypto Quant
The mechanics of how new capital entering the market impacts Bitcoin’s market capitalization were evaluated. In particular, analysts looked at changes in realized capitalization.
It is a measure of the total value of all circulating BTC based on the price at which each coin was initially acquired. As new money enters the market and BTC is acquired at prices higher than the purchase price of the previous owner, realized capitalization increases.
Is your portfolio green? Check out the BTC Profit Calculator
Still a long way to go
A historical analysis depicted the evolution of Bitcoin’s market cap and realized cap. This data provided insights into the metrics during the peak periods of 2013, 2017, and 2021.
As of the most recent data, Bitcoin’s market capitalization stood at $545 billion, a significant jump from the $396 billion of realized capitalization.
At press time, Bitcoin was trading at $29,800. Despite the surge in price, the velocity of BTC fell materially. This implied that the frequency at which BTC was being traded had fallen.
Additionally, the number of holders of BTC also declined during the same period. This could suggest that the price of BTC may hover in this range for some time.
Source: Santiment
- Bitcoin broke past the $27,000 barrier, triggering market optimism.
- Analysts suggested that potential Bitcoin spot ETF approval could boost market cap by $1 trillion.
After a prolonged wait, Bitcoin [BTC] finally surged past the critical $27,000 price threshold, an event that sparked excitement among traders and long-term holders alike. It wasn’t just the break above this significant resistance level that fueled optimism, the much-anticipated approval of Bitcoin exchange-traded funds (ETFs) added another layer of enthusiasm to the market.
Read Bitcoin’s Price Prediction 2023-2024
Make it a trillion
Furthermore, an analysis from CryptoQuant suggested that the potential approval of Bitcoin spot ETFs could contribute a staggering $1 trillion to Bitcoin’s market capitalization.
This analysis anticipated that approximately $155 billion could flow into the BTC market once these ETFs are granted approval.
To put these figures into perspective, it’s important to recognize the scale of traditional finance that Bitcoin is set to tap into. The companies responsible for these ETFs have a combined total Assets Under Management (AUM) of around $15.6 trillion.
A mere allocation of 1% of their AUM into Bitcoin ETFs could inject nearly $155 billion into the market, representing nearly one-third of the king coin’s current market capitalization.
Source: Crypto Quant
The mechanics of how new capital entering the market impacts Bitcoin’s market capitalization were evaluated. In particular, analysts looked at changes in realized capitalization.
It is a measure of the total value of all circulating BTC based on the price at which each coin was initially acquired. As new money enters the market and BTC is acquired at prices higher than the purchase price of the previous owner, realized capitalization increases.
Is your portfolio green? Check out the BTC Profit Calculator
Still a long way to go
A historical analysis depicted the evolution of Bitcoin’s market cap and realized cap. This data provided insights into the metrics during the peak periods of 2013, 2017, and 2021.
As of the most recent data, Bitcoin’s market capitalization stood at $545 billion, a significant jump from the $396 billion of realized capitalization.
At press time, Bitcoin was trading at $29,800. Despite the surge in price, the velocity of BTC fell materially. This implied that the frequency at which BTC was being traded had fallen.
Additionally, the number of holders of BTC also declined during the same period. This could suggest that the price of BTC may hover in this range for some time.
Source: Santiment
where to get cheap clomiphene no prescription where to buy cheap clomid without dr prescription where can i buy clomiphene no prescription where can i get cheap clomiphene no prescription can i get generic clomid online where can i get generic clomiphene price can i order generic clomiphene without rx
More posts like this would create the online time more useful.
More posts like this would prosper the blogosphere more useful.
order zithromax 500mg pills – oral flagyl 200mg metronidazole us
rybelsus 14 mg price – cyproheptadine for sale online order cyproheptadine 4 mg pills
motilium 10mg price – buy generic sumycin flexeril pill
buy inderal 10mg generic – methotrexate brand methotrexate 5mg sale
buy generic clavulanate for sale – https://atbioinfo.com/ acillin drug
where can i buy nexium – nexiumtous order nexium
how to get mobic without a prescription – swelling meloxicam order online
order deltasone 10mg online cheap – aprep lson order prednisone
best ed drugs – fastedtotake.com best ed pills non prescription uk
amoxil tablets – combamoxi cheap amoxil generic
diflucan 200mg over the counter – flucoan diflucan 100mg cheap
order cenforce 50mg for sale – https://cenforcers.com/ cenforce 100mg canada
cialis manufacturer coupon free trial – site cialis 20mg tablets
order zantac 300mg generic – https://aranitidine.com/# order ranitidine 150mg for sale
This is the big-hearted of criticism I truly appreciate. https://gnolvade.com/es/accutane-comprar-espana/
100 milligram viagra – https://strongvpls.com/ order cheap viagra online uk
This is a question which is virtually to my fundamentals… Myriad thanks! Quite where can I notice the phone details in the course of questions? https://ursxdol.com/cenforce-100-200-mg-ed/
More peace pieces like this would make the web better. neurontin 600mg us
This is the gentle of scribble literary works I in fact appreciate. https://prohnrg.com/product/lisinopril-5-mg/
Thanks on sharing. It’s outstrip quality. click