Bitcoin shows a bullish trend again

Bitcoin BTC $65,672.97 Bitcoin -0.28% Market capitalization $1.3 trillion VOL. 24 hours $0.6 billion shows a resumption of positive dynamics, rising to $ 60,281. This is due to the active interest in Bitcoin products, which may indicate the relative stability of the industry. In general, the global cryptocurrency market capitalization has increased by 2.2% over the past 24 hours to reach $ 2.08 trillion.

One of the key reasons for this growth was the significant investment in exchange-traded funds (ETFs) related to the market’s flagship. In the week ending September 13 alone, ETFs in the US received net inflows of $ 403 million, with another $ 186.7 million added on September 17, pushing the total ETF inventory to $ 17.3 billion.

In addition, a large number of short position liquidations in the derivatives market also supported bitcoin’s growth. According to Coinglass, traders lost $ 88 million on short positions over the past day, which contributed to the further growth of the cryptocurrency’s price.

These developments coincide with a strong performance of the US stock market, with the S&P 500 index hitting new highs, further bolstering investor confidence in BTC.

As a reminder, the famous mathematician Fred Krueger believes that bitcoin is a revolutionary force that has the potential to replace the current financial system. According to him, the growth opportunities for the main crypto asset are enormous, and it can grow 10 times from its current level.