Bitcoin has reached a new all-time high of $89,863, with a 10.80% increase in the last 24 hours. The cryptocurrency's trading volume has surged by 55.01% and its market cap sits at $1.76 trillion. The price rally is attributed to a supply shock following the 2024 halving event, which has created a predictable supply-demand imbalance. Bitcoin ETFs in the US saw a significant inflow of $1.094 billion, indicating strong institutional support. Whale transfers and technical indicators also suggest rising investor interest and a bullish outlook for Bitcoin.
- Content Editor ( thenewscrypto.com )
- 2024-11-12
Is Post-Halving Demand Fueling Bitcoin’s Historic Rise?