Bitcoin soaring past $50K without retail FOMO and high leverage is good for BTC
Bitcoin price rallies above $50,300 in the absence of retail trader FOMO and the use of high leverage. Cointelegraph explains why this is important.
Bitcoin (BTC) price increased by 17.5% in the past seven days and traded above $50,000 for the first time since December 2021. Today’s Bitcoin price action can be partially attributed to inflows to the spot Bitcoin exchange-traded fund (ETF) funds, which began trading on Jan. 11, but are the current inflows strong enough to justify further BTC gains above $50,000?
The world's largest mutual fund managers, including BlackRock, Fidelity, and ARK 21 Shares, have successfully launched their spot Bitcoin ETFs and the instruments surpassed $10 billion in assets in less than a month. Over the next couple of months, Bitcoin spot ETF flows are expected to increase as trading firms complete their due diligence on the newly launched investment vehicles
With Bitcoin hitting new multi-year highs, let's take a look at how retail investors feel about the crypto and macro markets today.