{"id":257172,"date":"2024-03-01T14:32:24","date_gmt":"2024-03-01T09:02:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=257172"},"modified":"2024-03-01T14:32:24","modified_gmt":"2024-03-01T09:02:24","slug":"bitcoin-on-track-for-record-22000-monthly-candle-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-on-track-for-record-22000-monthly-candle-crypto-news\/","title":{"rendered":"Bitcoin on Track for Record $22,000 Monthly Candle &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article__contents\">\n<p>Contents<\/p>\n<ul class=\"article__contents-list\">\n<li class=\"article__contents-item\"><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h239\">Whales are betting big on Bitcoin\u00a0<\/a><\/li>\n<li class=\"article__contents-item\"><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h385\">ETF demand fuels Bitcoin surge<\/a><\/li>\n<\/ul>\n<\/div>\n<p>Bitcoin is poised to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/invest_answers\/status\/1763031309755335027\">set<\/a> a new record with a monthly candle increase of $22,000, a milestone that underscores the digital currency&#8217;s rapidly growing appeal and market strength.<\/p>\n<p>This development comes as Bitcoin&#8217;s price edges closer to the $63,000 mark, signaling a robust recovery and growing investor confidence in the cryptocurrency space.\u00a0<\/p>\n<p>Market analysts and enthusiasts alike are closely monitoring this trend, which if sustained, could mark one of the most significant periods of gains for Bitcoin.<\/p>\n<h2>Whales are betting big on Bitcoin\u00a0<\/h2>\n<p>Notably, the surge in Bitcoin&#8217;s price is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1763018010347147560\">accompanied<\/a> by significant activity from large-scale investors, or &#8220;whales,&#8221; who are increasingly moving their holdings to derivative exchanges.<\/p>\n<p>According to crypto analytics firm CryptoQuant, these movements are indicative of a risk-on strategy where investors use Bitcoin as collateral for leveraged positions, betting on further price increases.\u00a0<\/p>\n<p>This aggressive strategy underscores the optimism among seasoned investors about Bitcoin&#8217;s short-term growth prospects.<\/p>\n<h2 id=\"h385\">ETF demand fuels Bitcoin surge<\/h2>\n<p>The demand for Bitcoin exchange-traded Funds (ETFs) has played a pivotal role in the cryptocurrency&#8217;s recent price surge.\u00a0<\/p>\n<p>Eric Balchunas, a senior ETF analyst, highlighted the extraordinary trading volumes witnessed by new Bitcoin ETFs, with records being shattered as trading volumes doubled from previous highs.\u00a0<\/p>\n<p>The New Nine, a group of recently launched Bitcoin ETFs, saw about $6 billion in traded volume, with leading funds such as $IBIT and Fidelity&#8217;s Bitcoin ETF doubling their previous records.\u00a0<\/p>\n<p>The record-setting performance of Bitcoin this month, coupled with significant whale activity and unprecedented demand for Bitcoin ETFs, points to a maturing market that is increasingly attractive to both individual and institutional investors.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Contents Whales are betting big on Bitcoin\u00a0 ETF demand fuels Bitcoin surge Bitcoin is poised to set a new record with a monthly candle increase of $22,000, a milestone that underscores the digital currency&#8217;s rapidly growing appeal and market strength. This development comes as Bitcoin&#8217;s price edges closer to the $63,000 mark, signaling a robust [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":257173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-257172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=257172"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257172\/revisions"}],"predecessor-version":[{"id":257175,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257172\/revisions\/257175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/257173"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=257172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=257172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=257172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}