Bitcoin, the market's leading cryptocurrency, rose more than 9% on Monday.
The price of Bitcoin has surpassed $56.000 per BTC for the first time since 2021. The market-leading cryptocurrency, which was trading above $54.700 in early Monday, quickly rose, reaching a value of $56.377 dollars per unit, at the time of writing this article.
According to data from CoinMarketCap, Bitcoin is currently recording a daily gain of 9,6%.
Source: CoinMarketCap
With this new value, Bitcoin has returned to the levels seen before the debacle of the Terra ecosystem and the collapse of FTX, the exchange founded by Sam Bankman-Fried.
Although some analysts they warn Regarding a possible correction in its price in the short term, others consider that the recent rise of the cryptocurrency is a sign that BTC is ready to leave the range in which it has been since February.
Swissblock, a cryptocurrency analytics firm, recently said that the price of Bitcoin is rising strongly and its next key level could be $58.000.
BlackRock breaks records with its Bitcoin ETF
The recent BTC price surge coincides with the huge momentum that Bitcoin ETFs are currently experiencing in the market. Specifically, these exchange-traded funds are experiencing record trading volumes, compared to the volumes seen at the time of their IPO in January.
Data from BlackRock's iShares Bitcoin Trust (IBIT) shows that over the past 24 hours, this spot ETF operated around $1.300 billion dollars, in daily volume.
Bloomberg ETF analyst Eric Balchunas noted that BlackRock's recent cash ETF trading volume was 30% higher than on its first day on the exchange.
While Balchunas stressed that he was not sure what was driving the daily trading volume in Bitcoin ETFs, which together totaled $2.400 billion on Monday, he did mention that Bitcoin's price surge is generating great interest among investorsIn addition to this, Balchunas emphasized BlackRock's role in the market, as the largest asset manager in the world.
Bitcoin ETFs launch on the Lima Stock Exchange
The arrival of several of the Bitcoin spot ETFs that were approved in the US market to the Lima Stock Exchange also represents great news for the crypto sector, which may be driving investor interest and the price of BTC.
Through a statement, the stock exchange confirmed that 3 of the new US Bitcoin ETFs, the BlackRock's IBIT, VanEck's HODL and Invesco's BTCO, are now listed on its market platform, offering Peruvian investors exposure to the world's leading cryptocurrency.
The resilience of the cryptocurrency market
Bitcoin's bullish rally has carried over to several major altcoins listed on the market. According to data from CoinMarketCap, the market capitalization of all cryptocurrencies rose by more than 6% on Monday, reaching a Total value of $2,11 trillion.
Source: CoinMarketCap
Ethereum (ETH), Polygon (MATIC), Uniswap (UNI), Stacks (STX) and Mantle (MNT), which are among the main cryptocurrencies by capitalization, have risen between 10% and 40% in the last few hours.
This bullish rally has brought the cryptocurrency market back to levels seen in the first quarter of 2022.
Continue reading: Ethereum price surpasses $3.000 again
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