From Nasdaq:

Cryptocurrencies, including Bitcoin, Ethereum, and Avalanche, traded mostly higher following an upsurge in Bitcoin ETF inflows. Bitcoin surged 5% in a single day, reaching as high as $48,000, driven by the spot Bitcoin ETF inflows. Solana experienced an outage but rallied through the week. Cryptocurrency-related companies such as MicroStrategy and Coinbase Global saw significant gains. The global cryptocurrency market cap stands at $1.78 trillion, with Bitcoin’s rally attributed to an upcoming halving event.

The Nasdaq Composite surged 1.25% to close at 15,990.66. The Dow Jones Industrial Average dipped slightly, ending at 38,671.69. The rally in tech stocks, driven by positive sentiments around Artificial Intelligence, led to gains for companies like Enhphase Energy and New York Community Bancorp. Analysts anticipate a rally to $50,000 for Bitcoin leading up to the halving event in April 2024.

The majority of Bitcoin held is currently in profit, signaling bullish sentiment. Bonk, Pendle, and Immutable were among the top gainers in the cryptocurrency market. The current global cryptocurrency market cap is $1.78 trillion.

Market analysts have expressed bullish sentiments about the cryptocurrency market, with predictions of significant price increases in the coming months. Entrepreneur and Bitcoin investor Lark Davis believes that the bull run is here, while another analyst, Michael van de Poppe, suggests buying Bitcoin and gold as a hedge against bankruptcy. This article states that the views and opinions expressed are those of the author and do not necessarily reflect those of Nasdaq, Inc.



Read more: Bitcoin Tastes $48,000 As Ethereum And Avalanche Follow, Led By Record ETF Asset Inflows: The Week In Retrospect