Despite a net positive flow into the crypto market, spot bitcoin ETF demand seems to have slowed since its peak in the first week of March.
BITCOIN
Leverage traders are nursing losses of over $165 million, as the price of bitcoin tumbled 5%, underscores the volatility inherent in crypto.
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Bitcoin experienced significant volatility last week, reaching a peak of $73,800 but quickly falling to $66,000.
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Tesla's bitcoin holdings reportedly rise to 11,509, with confirmation pending in the next financial report.
On March 5 bitcoin reached its all-time high of $69,200. The monthly increase of 56% in bitcoin's value has spiked interest in meme coins too.
Reuters hints that bitcoin's recent surge to a new peak may be more sustainable than its 2021 growth, due to institutional investment influx.
Bitcoin's price is likely to soon surpass its previous high, when it reached a record $69,000 in November 2021.
MicroStrategy seeks to boost its bitcoin reserves through the issuance of $600 million in convertible senior notes to qualified purchasers.
Bitcoin has seen a remarkable influx of funds, but the pace of the inflows could create an overheated market, say analysts.
Bitcoin's monthly gain of 47% is its largest since December 2020. The rally has also lifted Ethereum, which surpassed $3,500.
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