Bitcoin has surged to $50,000 barely two hours after its price rallied to $49,600. This sudden price increase has raised eyebrows and ignited ecstasy.
As of this writing, the asset is trading at $50,000, which represents a 0.06% increase in the past 24 hours.
What is Fueling The Bitcoin Rally?
The jury is still out on the sudden upward movement of BTC.
However, many observers continue to point to the surging interest in Bitcoin ETFs and a growing institutional acceptance of Bitcoin as an investment vehicle.
Over the past few days, Bitcoin has shown itself capable of achieving a sustainable rally, surging above $4500 and bouncing back for a potential bull run.
Bitcoin ETFs $10 Billion AUM
Barely 24 hours after it was reported that the Bitcoin ETFs had hit $10 Billion Assets Under Management(AUM), the demand for Bitcoin has seen an unprecedented growth, surging to the 2021 level.
On-Chain Media articles are for educational purposes only. We strive to provide accurate and timely information. This information should not be construed as financial advice or an endorsement of any particular cryptocurrency, project, or service. The cryptocurrency market is highly volatile and unpredictable.Before making any investment decisions, you are strongly encouraged to conduct your own independent research and due diligence
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