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 price increased by 17.5% over the past seven days and traded above $50,000 for the first time since December 2021. Feb. 12’s Bitcoin price action can be partially attributed to inflows to spot Bitcoin exchange-traded fund (ETF) funds, which began trading on Jan. 11, but are the current inflows strong enough to justify further Bitcoin (BTC) gains above $50,000?
The world’s largest mutual fund managers — including BlackRock, Fidelity and ARK 21Shares — have successfully launched spot Bitcoin ETFs, and the instruments surpassed $10 billion in assets in less than a month. Over the next couple of months, spot Bitcoin ETF inflows are expected to increase as trading firms complete their due diligence on the newly launched investment vehicles
With Bitcoin hitting new multiyear highs, let’s take a look at how retail investors feel about the crypto and macro markets on Feb. 12.