Bitcoin has experienced a significant rally, surpassing the $39,000 mark for the first time since April 2022. This surge is largely attributed to the growing excitement around the potential introduction of spot Bitcoin exchange-traded funds (ETFs). This anticipation has been a key driver for the largest crypto fund inflows in two years, as reported by CoinShares.
Moreover, the cryptocurrency's price boost is also linked to external factors, such as Binance's record settlement and the recent election of Argentinian President Javier Milei, which led to near-record highs for Bitcoin in Argentina. As of the report, Bitcoin's value had risen by approximately 1.5% in the last 24 hours, briefly peaking above $39,500 before a mild retreat.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.