Bitcoin hits $ 52,000 for the first time since 2021

Bitcoin’s price has surpassed $ 52,000. Previously, BTC $96,064.69 Bitcoin -1.23% Market capitalization $1.9 trillion VOL. 24 hours $2.38 billion was trading at this level at the end of 2021, when the cryptocurrency market entered a correction after reaching historic highs.

Bitcoin’s capitalization has exceeded $ 1 trillion for the first time since December 2021. The sharp rise in the price of BTC has triggered a cascade of liquidations of traders' short positions on major crypto exchanges. According to the Coinglass service, the total amount of forcedly closed shorts on bitcoin exceeded $ 33 million in just one hour.

The second largest cryptocurrency by capitalization, Ethereum (ETH), also grew, its rate exceeded $ 2700 and updated the maximum of 2024. At the same time, the total value of the crypto market exceeded $ 2 trillion, according to CoinGecko. The volume of trading in digital assets over the past 12 hours amounted to $ 115 billion, of which $ 45 billion was accounted for by bitcoin.

The steady growth of the flagship cryptocurrency is influenced by positive sentiment among investors. They are mostly fueled by inflows into recently approved spot bitcoin ETFs in the United States.

The significant growth of the HTS gives analysts reasons for positive forecasts. Cryptocurrency expert Tuur Demster said that by 2026, bitcoin quotes will reach $ 600,000. According to the analyst, the upcoming halving, which is expected to take place in April 2024, will have a major impact on this. Against this background, bitcoin may well update the ATH in November-December 2024. Much will also depend on the success of recently approved ETFs.