Bitcoin's Market Cap Exceeds $1 Trillion – BlackRock's Spot BTC ETF Surpasses $720 Million in Daily Volume

Bitcoin’s Market Value Exceeds 1 Trillion Dollars

Bitcoin’s market capitalization has surpassed the $1 trillion level, thus reaching an important milestone. This significant achievement marked a historic moment in the evolution of cryptocurrencies, highlighting the growing influence and adoption of Bitcoin in the global financial landscape. Factors such as increasing institutional and individual interest with the approval of ETFs and increasing recognition as a store of value played an important role in the market value reaching these levels. The total cryptocurrency market value exceeded 2 billion dollars.

BlackRock’s Spot BTC ETF Surpasses $720 Million in Daily Volume

According to data from Coinglass, BlackRock’s spot Bitcoin ETF iShares Bitcoin Trust (IBIT) became number one in terms of volume, exceeding the record level of $720 million in daily volume on February 14. Commenting on IBIT’s volume of more than $700 million on February 14, Bloomberg ETF analyst Eric Balchunas called the trend a ‘more unusual second wind’ for the fund.

Gerber Kawasaki Advisor Says Many Clients Are Interested in Spot Bitcoin ETFs

Many clients of asset management firm Gerber Kawasaki have expressed interest in the new spot Bitcoin ETFs, according to investment advisor Brett Sifling. Sifling said many investors are interested in the new spot Bitcoin ETFs and think it’s a good tool for portfolio management as long as they’re comfortable with that risk profile.

Bitcoin Open Interest Rate Exceeds 21 Billion Dollars

The dollar value locked in the number of open or active Bitcoin futures contracts rose to a 26-month high, according to CoinGlass data. Open interest in Bitcoin futures contracts reached $21 billion. Open interest has increased by 22% this year, approaching the $24 billion record seen in November 2021, when Bitcoin was trading above $65,000.

Citibank Tries to Issue Shares via Blockchain

Multinational financial services giant Citibank announced on Wednesday that it is piloting tokenized securities on the blockchain to support the adoption of distributed ledger technology on Wall Street. Based on the ‘simulation’ results, the bank will determine whether it plans to offer relevant blockchain-based services in the coming weeks.

Ethereum ETF Decision: Gensler Remains Silent

United States Securities and Exchange Commission Chairman Gary Gensler revealed little information about spot Ethereum exchange-traded funds during his Squawk Box interview with CNBC on February 14. When asked if and when a decision might be made, Gensler said the process would be handled exactly the same as Bitcoin ETFs, and nothing would be disclosed about the current status or potential timeline. The securities authority postponed its decision on the approval of the Invesco Galaxy Ether ETF on February 6, and its decision on Invesco’s ETF application in December.

Fidelity Reduces Management Fee on Bitcoin Physical ETP Product

Fidelity has become the latest asset manager to reduce its transaction fee. According to the news announced yesterday, Fidelity reduced the management fee on its Physical Bitcoin ETP product from 0.75% to 0.35%. In recent months, WisdomTree and Invesco have reduced the management fees for their Physical Bitcoin ETP products to 0.35% and 0.39%, respectively. “The approval of the first spot Bitcoin ETFs in the US has increased investor interest in cryptocurrencies around the world,” said Christian Staub, Managing Director of Fidelity Europe. he said.

High Inflows in Spot Bitcoin ETFs in the Last Four Days

Spot Bitcoin ETFs have experienced more net inflows in the last four days than in the entire first four weeks. According to the data, ten spot Bitcoin ETFs received 43,300 Bitcoin inflows in the last four days alone. On the first day, a total of 42000 Bitcoin entries were made. In addition, BITB, issued by Bitwise, exceeded the $1 billion mark in assets under management (AUM) and became the fourth ETF.

——————————————————————- —————————–

BITCOIN(BTC)

In today’s morning hours, Bitcoin is trading at $52,100, up 0.59%. $52,000 is a very critical level. After appearing at $52,500, it encountered a sell-off and experienced a retreat to this level. An increase up to $54,000 may be seen in prices above $52,000. If there is a break below $52,000, a pullback may be seen up to $50.8000.

ETHEREUM(ETH)

Ethereum, which gained 0.34% in value as of the morning hours, is priced at $ 2785. After a rise to $2825, there was a retreat to these levels. $2785 is a critical level, and as pricing continues above it, a rise to $2900 may be seen. In case of a downward break, the first support level appears to be $ 2710.

RIPPLE(XRP)

As of the morning hours, XRP is priced at $0.55 with a 2.32% gain in value. After a rise to $0.5590, there was a decline to $0.55. This zone is a strong support zone, and if it moves upwards, a rise of up to $0.57 can be seen. If $0.55 breaks downward, $0.54 appears as the first support level.

AVALANCHE(AVAX)

AVAX is priced at $41.96 with a 0.62% loss in value as of morning hours. After rising to $42.72, it retreated and continues its correction. It is very important to maintain permanence above $41 for the continuation of the rise. If a gain of $41 is realized, a pricing of up to $45 may be seen. If a pullback occurs, a move up to $40 could be seen.

SOLANA(SOL)

SOL is priced at $115.9 with a 0.93% loss of value as of the morning hours. When we examine the hourly chart, we see a horizontal movement between the $118.5 and $115 levels. These two levels can be followed as important resistance and support levels. In case of a downward break of the $115 support zone, a move towards the $110 region may be possible. In case of an upward break of the resistance zone of $118.5, the $125 level can be tested.

CHAINLINK(LINK)

As of the morning hours, LINK is priced at $20,056 with a 0.91% loss in value. When we examine the hourly chart, we see that the resistance zone of $ 20,450 could not be crossed upwards and there was a slight retreat. LINK, which is momentarily priced in the rising trend line region, may move towards the $ 20,450 region again if it receives a reaction from this region. If the rising trend breaks downwards, the $19,800 level can be tested.

ACH
As of the morning hours, ACH is priced at $0.02093 with a 4.55% gain in value. When we examine the four-hour chart, we see that the upward movement continues with the upward break of the resistance zone of $ 0.01993. If this movement continues, the $0.02150 level could be tested. In case of a withdrawal, the $0.02050 level can be followed as support.

CHZ

CHZ is priced at $0.10613 with a 1.97% gain in value as of the morning hours. When we examine the four-hour chart, we see that the horizontal movement has broken upward. If this movement continues, the $0.11 level may be tested. In case of a withdrawal, the $0.105 level can be followed as support.