There has been a significant increase in the cryptocurrency market in the last 24 hours. Total market capitalization reached $2.5 trillion, highlighting major crypto assets performing strongly. Bitcoin 
$71,218The rise of has created a positive atmosphere in the overall market.
Bitcoin Continued to Rise for 12 Hours
Bitcoin is currently trading above $72,000 and is near its all-time high. An uninterrupted rise was observed in the price of Bitcoin for 12 hours. This move brings Bitcoin one step closer to its peak in June 2024. Investors are evaluating the possibility that a new peak may be reached.
US Elections and Cryptocurrency Market
The upcoming US presidential elections have increased interest in cryptocurrencies. It is stated that both main candidates have a positive attitude towards digital assets. Donald Trump’s campaign, in particular, is addressing the crypto industry as part of economic growth. Trump’s suggestions include tax exemptions and incentives for tokens developed in the USA.
Increase in Stock Exchange and ETF Investments
Investment interest in stock markets and ETFs is also increasing significantly. According to SoSo Value data, the volume of Bitcoin spot ETFs exceeded $5 billion. BlackRock’s IBIT product reached a volume of $3.3 billion. According to research conducted by Kaiko, it was observed that there were strong capital inflows to the BTC perpetual futures market.
Kaiko: “There are strong capital inflows in the BTC perpetual futures market.”
Bitcoin open interest is back to the $16 billion levels seen in August. But funding rates remain below March peaks. This shows that investors are cautious about bullish expectations. There have been liquidations exceeding $113 million in Bitcoin in the last 24 hours; The majority of them come from short positions.
Investors Are Making New Purchases
According to VanEck’s research, new Bitcoin buyers are joining the market daily. This indicates that the market has a strong momentum and is in an upward trend. Bitcoin and the crypto market are following a positive trend, driven by the US elections and strong investor interest. In the future, possible changes in regulations and market dynamics will determine price movements.
The cryptocurrency market continues its development intertwined with global economic factors. It is of great importance for investors to closely monitor market trends and regulatory changes in order to make informed decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
