Topics
Latest
AI
Amazon
Image Credits:Boris Zhitkov(opens in a new window)/ Getty Images
Apps
Biotech & Health
Climate
Image Credits:Boris Zhitkov(opens in a new window)/ Getty Images
Cloud Computing
commercialism
Crypto
CoinShares Volume 173: Digital Asset Fund Flows Weekly Report.Image Credits:CoinShares
go-ahead
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
Security
Social
blank
inauguration
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video recording
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
The crypto scene continues to remain so red-hot that bitcoin is hitting one new eminent after another . It outdo $ 72,700 on Monday . This was initially driven by the blessing of spot bitcoin ETFs , but is now being advertise higher ahead of a “ halving ” event , which will limit the amount of new supply put into circulation from bitcoin miners .
Bitcoin has increased 9.5 % in the past seven days and is up 50 % on the month , harmonize to CoinMarketCapdata . The total crypto market place cap across all tokens has increased 10 % on the workweek to $ 2.71 trillion , with bitcoin do up 52.7 % of that amount .
There is , of course , no agency of telling how eminent bitcoin can get up during the current papal bull fury . While many are feeling the hopium , there ’s at least one indicator that call back we ’re draw shut the top of the highs , with price dips to quickly abide by .
The CoinMarketCapCrypto Fear & Greed Indexis in “ extreme greed ” soil at 89.12 points , up from “ neutral ” at 59.3 points , in early February . The index mensurate price and trading datum of the biggest cryptocurrencies , with its substance abuser behavior data to measure crypto market place sentiment from 0 - 100 . When the exponent is closer to zero , investor have over - sold their positions “ irrationally , ” liken to when the value is closer to 100 , the grocery is likely to face a chastisement .
With that articulate , bitcoin has remain the independent centering for retail and institutional investors , with $ 2.6 billion inflows on the week , aka money being put into the asset , and $ 9.9 billion twelvemonth - to - date , harmonize to CoinShares ’ Digital Asset Fund Flows Weekly Report . Ether , the second - largest cryptocurrency , is n’t benefiting directly from any bitcoin ebullience hype . Its inflows this past week are down $ 2.1 million , although it is up $ 135 million yr - to - date .
irrespective of how high investors will push bitcoin up ahead of thebitcoin halvingevent , which is expect to transpire in mid - April and happens every four years , there ’s no ground to believe that what get going up wo n’t come down . Again . In previous cycles , bitcoin halvings increase demand and pricing for the cryptocurrency .
The last bitcoin halving was on May 11 , 2020 and drive its price up about 600 % from around $ 9,000 to $ 63,000 by the April 2021 mark . Then it fell about 50 % within three calendar month , point renewed volatility for the asset .
