Bitcoin Hits $73.6K, New All-Time High Amid ETF Inflow

By Patricia Miller


Bitcoin's all-time high driven by ETF inflows gives retail investors profit potential, diversification in cryptocurrencies. Ethereum upgrade lowers transaction costs.

Cryptocurrency golden bitcoin coin.
Ether Rises with Bitcoin's Surge as Interest in Cryptocurrencies Grows

What You Need To Know

Bitcoin surged to a new all-time high of $73,664 before settling around $73,080, driven by increased inflows into US exchange-traded funds (ETFs) tied to the cryptocurrency. BlackRock's IBIT saw record daily flows of $849 million. The demand for physically-backed ETFs has led to a decrease in Bitcoin's circulating supply.

Other cryptocurrencies, like Ether, have also seen a boost in value with renewed interest in the asset class. Additionally, the latest software upgrade for Ethereum, called Dencun, is expected to significantly reduce costs for Layer 2 networks, making transactions much cheaper.

Why This Is Important for Retail Investors

  1. Profit Potential: The surge in Bitcoin, along with increased interest in other cryptocurrencies, presents an opportunity for retail investors to potentially profit from the market movement.

  2. Accessible Investments: The rise of ETFs tied to Bitcoin allows retail investors to gain exposure to the cryptocurrency market without the complexities of directly purchasing and storing digital assets. ETFs provide a more accessible and regulated way to invest in cryptocurrencies.

  3. Diversification: Cryptocurrencies can offer diversification benefits to a retail investor's portfolio. By adding exposure to digital assets like Bitcoin and Ether, investors can reduce risk and improve the overall performance of their investment portfolio.

  4. Increasing Adoption: The growing interest and inflows into Bitcoin and other cryptocurrencies highlight the increasing adoption of digital assets. Retail investors who stay informed and participate in this evolving space may position themselves ahead of the curve as cryptocurrencies gain mainstream acceptance.

  5. Technological Advancements: The Ethereum network upgrade and the development of Layer 2 solutions signify the continuous advancements in blockchain technology. Retail investors can benefit from staying informed about these developments as they have the potential to enhance transaction efficiency and reduce costs, making cryptocurrencies more practical for everyday use.

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This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Patricia Miller does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Patricia Miller has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of, has not been paid for the production of this piece by the company or companies mentioned above.

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