Cardano

Bitcoin

<div class="finbold">
 <p class="paragraph">As Bitcoin (BTC) finally surpassed the critical psychological price mark at $50,000 for the first time since 2021 and continued up, close to $40 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> has flown into its market capitalization in the last day alone, bringing excitement all across the cryptocurrency sector.</p>
 <p class="paragraph">Indeed, Bitcoin’s market cap raced from $945.31 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> to $982.41 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in a matter of 24 hours, which means it has added as much as $37.1 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> and grown by 3.93% during this period, according to the latest information retrieved from crypto market monitoring platform <em>CoinMarketCap</em><em> </em>on February 13.</p>
 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/13/5a4763d9af1b377975acca342d2cee83.webp" alt class="wp-image-154615" srcset="https://cdn.thebittimes.com/images/2024/02/13/5a4763d9af1b377975acca342d2cee83.webp 1200w, https://cdn.thebittimes.com/images/2024/02/13/5a4763d9af1b377975acca342d2cee83.webp 300w, https://cdn.thebittimes.com/images/2024/02/13/5a4763d9af1b377975acca342d2cee83.webp 1024w, https://cdn.thebittimes.com/images/2024/02/13/5a4763d9af1b377975acca342d2cee83.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Bitcoin 24-hour market cap chart. Source: </em><em>CoinMarketCap</em>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">Meanwhile, the maiden crypto asset was at press time changing hands at the price of $50,066, which suggests a 4.13% gain in the last 24 hours, in addition to advancing 16.42% across the previous seven days and increasing 16.43% on its monthly chart, as per the most recent data.</p>
 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/13/eb05694a7398794d06b054b36758d6af.webp" alt class="wp-image-154618" srcset="https://cdn.thebittimes.com/images/2024/02/13/eb05694a7398794d06b054b36758d6af.webp 1200w, https://cdn.thebittimes.com/images/2024/02/13/eb05694a7398794d06b054b36758d6af.webp 300w, https://cdn.thebittimes.com/images/2024/02/13/eb05694a7398794d06b054b36758d6af.webp 1024w, https://cdn.thebittimes.com/images/2024/02/13/eb05694a7398794d06b054b36758d6af.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Bitcoin 24-hour price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">At the same time, crypto trading expert <em>Jelle</em> pointed out that Bitcoin has broken the 0.618 Fibonacci retracement before the halving for the first time in its history, making it the “strongest start to a new bull <a rel="noopener noreferrer nofollow" title="cycle" href="https://thebittimes.com/tag/cycle.html">cycle</a>, ever” and printing new highs, according to the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> shared in an X post on February 13.</p>
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 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="900" height="516" src="https://cdn.thebittimes.com/images/2024/02/13/6eb856ac6c0be8d6485144a060653f52.webp" alt class="wp-image-154617" srcset="https://cdn.thebittimes.com/images/2024/02/13/6eb856ac6c0be8d6485144a060653f52.webp 900w, https://cdn.thebittimes.com/images/2024/02/13/6eb856ac6c0be8d6485144a060653f52.webp 300w, https://cdn.thebittimes.com/images/2024/02/13/6eb856ac6c0be8d6485144a060653f52.webp 768w" sizes="(max-width: 900px) 100vw, 900px">
  <figcaption class="wp-element-caption"><em>Bitcoin price action analysis amid pre-halving. Source: </em><em>Jelle</em>
  </figcaption>
 </figure>
 <p class="paragraph">Moreover, crypto analyst Ali Martinez highlighted that “it seems the market has just emerged from a period of anxiety and has re-entered a new phase of belief,” suggesting “we might see additional upward momentum for Bitcoin before reaching the peak of euphoria that characterizes the end of the bullish cycle.”</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp" alt class="wp-image-154619" srcset="https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp 1024w, https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp 300w, https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp 768w, https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp 1536w, https://cdn.thebittimes.com/images/2024/02/13/7494b242e523eaec29d159e669c9483a.webp 1800w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin long-term holder net unrealized profit and loss (NUPL). Source: </em><em>Ali Martinez</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, the flagship decentralized finance (DeFi) asset seems to have triggered an unstoppable <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> rally, possibly even ending up at a new all-time high, surpassing the previous record it reached in November 2021 when it was briefly trading around the price of $69,000.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nearly-40-billion-flows-into-bitcoin-in-a-day-as-bullish-cycle-begins-tbt79667.html">https://thebittimes.com/nearly-40-billion-flows-into-bitcoin-in-a-day-as-bullish-cycle-begins-tbt79667.html</a></p>

Nearly $40 billion flows into Bitcoin in a day as bullish cycle begins

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