Bittime - Bitcoin holders are on fire, with no time for setbacks. A brief dip to $69,000 was quickly erased as Bitcoin prices surged to record highs again.
New Record High Established
Data from Cointelegraph Markets Pro and TradingView confirmed a new peak of $73,679 on the Bitstamp exchange, or around 1.13B in rupiah. This followed a period of consolidation around $72,000, with a brief drop of $4,000 to $69,000 that was quickly recovered.
This price spike coincided with significant buying pressure from Bitcoin-focused exchange-traded funds ( ETFs ). The growing popularity of these ETFs shows the growing interest in Bitcoin among institutional investors, who see ETFs as a convenient and safe way to gain exposure to the cryptocurrency.
Check Today's Crypto Market:
| BTC/IDR | SOL/IDR |
| ETH/IDR | USDT/IDR |
| DOGE/IDR | ARB/IDR |
Supply Squeeze ETF
The emergence of ETFs has also impacted the overall supply of Bitcoin available for purchase on the open market. When ETFs acquire Bitcoin to meet investor demand, this reduces the number of coins directly available to individual traders. This limited supply, coupled with high demand, is contributing to the current price increase.
Macroeconomic Factors Add to the Heat
In addition to the influence of ETFs, some analysts point to broader macroeconomic factors influencing the Bitcoin market. Rising inflation and uncertainty in traditional markets may be driving investors to Bitcoin as a hedge against inflation and a store of value.
BTC Price Today
Source: Bittime.com
On March 14 2024, the price of Bitcoin BTC/IDR has reached IDR 1,146,383,637 per coin, up 1.24% in 24 hours, based on the Bittime market.
Also Read How to Buy Crypto:
What to Expect from Bitcoin Next?
With Bitcoin surpassing its previous record, all eyes are now on whether it can maintain this momentum. The role of ETFs and the evolving global economic landscape will be closely watched as institutional investors continue to enter the market and the search for inflation hedges intensifies.
Check Crypto Prices Today:
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime .
Monitor price chart movements for Bitcoin (BTC ) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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