Bitcoin blows beyond $ 120,000 for the first time, as Etf Blackrock investors accumulate

The Bitcoin’s Monday’s increase follows a series of last high levels. After hovering less than $ 110,000 for more than a month, the largest cryptocurrency in the world was published Records On Thursday, during the weekend, amid a gathering in return in the stock market.

Bitcoin’s leap also comes in the price of an abundance of demand from institutional investors, who are likely to invest in Crypto through the digital asset products offered by Wall Street companies. Crypto ETFS of the Asset Management Giant Blackrock The flow of more than $ 2.4 billion during the past week, according to data from Crypto Investment Coinshares.

ethereumThe second largest encrypted currency increased by market value, by approximately 3 % during the past day to shoot 3000 dollars. 20 % rose last week. Despite the gains made by the two largest encoded currencies, the total market value of all digital assets decreased by 0.5 % today to about $ 3.87 trillion.

In total, Crypto ETFS recorded a $ 3.7 billion flow last week, which is the second largest week, according to Coinshares.

James Bouteville, head of research at Coinshares, attributed the booming demand for Bitcoin to “political developments and signs of the federal reserve.”

On Wednesday, the Federal Reserve issued a report for its meeting in June. Officials have largely agreed to have interest rates at one time this year. “Most of the participants evaluated that some discounts in the target scope of the federal funds rate this year are likely to be appropriate,” Read, read summary From the meeting.

Meanwhile, Petfille said that the positive political developments of encryption in Congress raised the enthusiasm of the investor. The House of Representatives is scheduled to vote this week on GeniusA draft law that regulates Stablecoins, which was issued by the Senate in June. It is also scheduled to vote on the clarity law, a legislation that determines how US financial agencies should regulate the digital asset book.