From Forbes:

Bitcoin reached a new all-time high of $72,738, driven by record market capitalization of $1.41 trillion and extreme greed in the Fear and Greed Index. The surge was fueled by increased institutional and retail participation, as well as anticipation for the Bitcoin Halving event. As Bitcoin continues to soar, retail interest in cryptocurrency as an asset class is expected to grow mainstream.

Bitcoin ETFs saw a massive inflow of $678 million by the end of February, with strong bullish sentiment among institutional and retail investors. Spot Bitcoin ETFs, led by BlackRock iShares, attracted significant inflows, while Grayscale’s GBTC faced outflows. BTC’s price surge to $72k before the Bitcoin Halving event has paid off for large institutional players like BlackRock and MicroStrategy, with the latter holding 205,000 BTC valued at $821.7 million.

The UK’s FCA announced approval for recognized exchanges to launch crypto-backed exchange-traded notes (cETNs) for professional investors, but warned of potential harm to retail investors due to the high risk and unregulated nature of digital assets. The ban on selling cETNs to retail consumers remains in place. Exchanges must ensure sufficient controls for orderly and protected trading to meet UK listing regime conditions.

Bitcoin’s surge to $72,738 has sparked debate among investors on whether it signals a bull run or a bull trap. While some traders are optimistic about BTC’s upward momentum driven by factors like Spot Bitcoin ETFs and the upcoming Bitcoin Halving, others caution that sudden pumps could be indicative of a bull trap. Investors are advised to tread carefully during the current market excitement.

In conclusion, the recent surge in Bitcoin prices, reaching a new all-time high of $72,738, has been driven by a combination of factors including institutional and retail participation, Bitcoin ETF inflows, and the upcoming Bitcoin Halving event. However, caution is advised as sudden price movements can be indicative of a bull trap, and investors should carefully assess the risks before entering the market.



Read more at Forbes: Bitcoin Hits New High, Surpassing $72K – Forbes Advisor INDIA