The cryptocurrency market has seen a massive inflow since the approval of the bitcoin spot ETF earlier in January 2024, This in turn has experienced over $1.5billion gain inflow in January, and over $6.1 billion gain inflow in February of 2024,and the highest inflow in March 12 of over $1 billion.
Up next , is the bitcoin halving ,This event is set to slash the bitcoin daily supply in half ,thereby, increasing the demand for bitcoin alternative increasing the value of bitcoin,
LIVE CRYPTO RATES FOR TODAY
| Name | Price | 24H (%) |
|---|---|---|
 Bitcoin(BTC) | $98,142.65 | 4.54% |
 Ethereum(ETH) | $3,429.64 | 6.52% |
 XRP(XRP) | $2.29 | 7.58% |
 Cardano(ADA) | $0.95 | 15.46% |
 Bitcoin Cash(BCH) | $466.96 | 14.29% |
 Litecoin(LTC) | $103.50 | 11.82% |
 Monero(XMR) | $192.69 | 9.61% |
 IOTA(IOTA) | $0.311923 | 13.53% |
 Dash(DASH) | $38.38 | 13.14% |
Although, according to Crypto Quant CEO(crypto analytic firm), Ki Young Ju, lamented on a serious supply crisis on bitcoin ,if the halving event is to occur .This event is set to occur a month away.
‘”At this rate, we’ll see a sell-side liquidity crisis within 6 months'” __Ki Young Ju
All these has impacted in the massive rise in the bitcoin price to a new all time high to over $73850 after several dump seasons and years, Also an increase in the total cryptocurrency market cap has been seen approximately 40% increase to over $2.2 trillion as altcoins, decentralized finances and non fungible tokens are tapping the bullish impact,
Coupled with the rise in bitcoin spot ETF with over 45% gain inflow since its launch in January, According to JP Morgan, A net inflow of over $9 billion has been received, and is expected to rise to over $220billion in next 2 – 3 years.as bitcoin capital inflow rises.
In comparison to Gold, with over $3.3 trillion global investments has approximately 7% at $230 billion in funds as the remaining 93% stored in bars and coins, This report is based on JP Morgan analysis and from this report, it was confirmed that the bitcoin investor portfolios has surpassed the allocations of gold investors.
Further on the report from the managing director of JP Morgan, Nikolaos Panigirtzoglou, He compared the both asets volatility, and it was also confirmed that bitcoin beats Gold 3.7 times .s
Finally, Nikolas stretched on the fact that once the grayscale bitcoin trust outflow would be limited, The entire Bitcoin spot ETF market was increase to over $62 billion in the next 3 years.
