Bitcoin (BTC) Set for $1.5 Trillion Market Cap as Institutions Turn Bullish

Analysts predict the Bitcoin (BTC) market cap will reach $1.5 trillion amid surges in spot exchange-traded funds (ETF) from BlackRock and others and the trade volume of the top 10 crypto assets. Jurrien Timmer from Fidelity predicts that Bitcoin will soon capture 25% of the non-industrial gold market.

Timeline of Bitcoin

In an intriguing display of investor interest and market demand, the recently launched spot Bitcoin Exchange-Traded Funds (ETFs) have collectively accumulated over 303,000 BTC in assets under management (AUM) less than eight weeks after their inception, per available data from senior analyst at K33 Research Vetle Lunde.

Bitcoin Spot ETFs are gunning for a new record after an incredible start to the new week. The price of BTC has risen 8% in the last day, and this has caused euphoria in the market.

In a remarkable display of market strength, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have seen significant price increases, with Bitcoin soaring 10% to surpass the $57,000 mark and Ethereum rising 5% to exceed $3,200 on Tuesday. This upward trajectory comes alongside a record-breaking trading volume and a notable shift in investor behavior towards cryptocurrency ETFs.

Bitcoin price analysis: The largest cryptocurrency suddenly broke out on Monday following a period marked by market doldrums. In the initial February rally, Bitcoin price made it above $50,000 with the leg extending to $53,000.

Seven days after the new Bitcoin ETFs launched, I analyzed how they could put pressure on Bitcoin's supply dynamics in an article called “If BlackRock continues 6k BTC daily buys, we get a supply crunch within 18 months; here's why.' On the day of publication, Jan.

Insider trading has been a longstanding concern in US politics, primarily around stock trading. However, US Representative Shri Thanedar recently revealed a sale of nearly $1 million worth of cryptocurrencies, shedding light on a new dimension to this issue.

Bitcoin has once again surged impulsively, defying several bearish signals hinting at a potential correction phase. Despite these warnings, the price has broken through a significant resistance level that has persisted over multiple months, signaling a strong presence of buyers in the market and the potential for the continuation of the current trend.

Trevor Noah, a comedian and entertainer, on Monday said he regrets not purchasing Bitcoin (CRYPTO: BTC) during its early days when the price was extremely low. What Happened: Noah at the Web Summit Qatar 2024 in Doha on Feb. 26 said, “The biggest mistake I've ever made [was] not buying Bitcoin when it was nothing, that's the biggest mistake I've made.

Litecoin (LTC) has seen a 14.21% surge in price throughout February, reaching $76.06, a move that underscores the cryptocurrency's resilience and the commitment of its long-term investors. Despite slipping to the 21st position in market cap rankings, Litecoin's current trading price reflects optimism among analysts who foresee future price appreciation.

In the cryptocurrency space, certain trends and movements offer valuable insights into market sentiment and potential future shifts. One such development, highlighted by crypto analyst Ali Martinez on February 26, has caught the attention of the crypto community: a significant increase in the number of “Bitcoin whales.