The bull sentiments around Bitcoin surged rapidly in the last 24 hours, despite bearish sentiments in the risky money markets.
The current trade price of Bitcoin (BTC), the top crypto asset by market cap, is $65,143 & this price is 2.25% higher over the last 24 hours.
#Bitcoin just hits $65.5k pic.twitter.com/G8BCYJAzhT
— Bitcoinik (@Bitcoinikdotcom) May 6, 2024
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In the last 7 days, the trade price of Bitcoin surged nearly 5%, despite the bearish sentiments in all money markets.
In this phase of the Bitcoin market, we can say that Bitcoin is now out of the post-bitcoin halving fear levels and now there are huge chances that the trade price of Bitcoin will surge in step-by-step phases every month for the next 12 months.
In the last few days, ETF experts noted that the net investment inflow in the majority of Bitcoin spot ETF products surged significantly.
In particular, yesterday, Grayscale Bitcoin spot ETF saw a $63 million inflow.
Research by Crypto.com showed that all the US Spot Bitcoin ETFs products saw a total net inflow of $11.57B and a daily net inflow of $378M on 3 May.
Today Bitcoin completed a total of one billion transactions & it took nearly 15 years for the Bitcoin network. Over its 15-year lifespan, the network has averaged 178,475 transactions processed daily.
Popular Bitcoin proponent & former CEO of Bitcoin bull company Microstrategy Michael Saylor also shared his happiness on this achievement of Bitcoin blockchain.
Some experts noted that the rate of Bitcoin transactions surged rapidly over the last 12 months because of the inception of the BRC-20 token standard, which attracted people to mint their tokens & NFTs on the Bitcoin network indirectly.
Read also: $Sui network says “There is no mystery about token ownership”
Bitcoin hits $65k, as Bitcoin network completes 1 billion transactions
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