Bitcoin once again showed amazing rising momentum this morning (6th), reaching a maximum of $44,488, repeatedly breaking new highs this year; Bitcoin’s market share of all cryptocurrencies also reached 55% earlier, hitting a 30-month high .
Bitcoin regains its position as the 9th largest asset in the world
As the value of Bitcoin continues to rise, according to 8marketcap data , the current market value of BTC has now reached 855.5 billion US dollars, surpassing Zuckerberg's Meta, Buffett's Berkshire Hathaway and Tesla, and has jumped to the ninth largest asset market value in the world. The first target is AI chip leader NVIDIA.
Bitcoin has not seen a major correction in more than 100 days
There has been no obvious price correction in Bitcoin's sustained upward trend since mid-October. This phenomenon may be related to the market's optimistic expectations for Bitcoin spot ETFs, the end of the Fed's interest rate hike cycle, and the BTC halving narrative. .
However, the dynamic zone once again reminds investors to be careful of risks, as a correction may occur at any time. James Edwards, a cryptocurrency analyst at Finder, also expressed the view that from a logical point of view, the approval of the Bitcoin spot ETF is likely to trigger a wave of selling.
Logically, this can be understood as an investment behavior of "Sell the news".
Edwards is also skeptical that a Bitcoin spot ETF will attract a large number of institutional investors immediately upon approval. He emphasized that fund managers are unlikely to rush to invest large sums of money when such financial products are first launched:
Instead, we may have to wait months or even years before we witness substantial large-scale inflows into Bitcoin spot ETFs.
Extended reading: Bitcoin Spot ETF Frontline》Bloomberg Analyst: The key time for SEC approval is these three days in January, which will affect BTC volatility
Ryan McMillin, chief investment officer of Merkle Tree, also said that although Bitcoin has not experienced a significant adjustment for more than 100 days, it implies an increase in the risk of a correction.
However, CK Zheng, founder of cryptocurrency investment company ZX Squared Capital, is optimistic. He said:
Any pullback in the market is expected to be mild, as Bitcoin’s fundamentals are currently stronger than ever. This includes next year’s Bitcoin halving event, massive money printing by global central banks, and continued global geopolitical uncertainty.
