The largest cryptocurrency in the world returned to renew its highs of the year in the early hours of this Monday (4). Bitcoin ETFs (BTC) reached US$65,000 and have been hovering around that price level ever since, riding in the wake of optimism about the cryptocurrency.
Investors took advantage of Saturday and Sunday, days of traditional lower liquidity for the crypto market, to consolidate last week’s prices.
With the construction of a more solid level, added to the expectation that BTC could surpass the historical highs of US$ 68 thousand in March, investors expanded the rally of the last few days.
In addition to the short squeeze movement of recent days, BTC takes advantage of the scenario created by spot bitcoin ETFs in the United States.
According to the Apollo portal, the top 9 BTC ETFs on the spot market have accumulated almost 350,000 units since SEC approval on January 10.
In other words, approximately US$22.7 billion in BTC was withdrawn from the market for the cash of large managers, reducing the supply for retail investors.
Consequently, prices tend to rise as demand remains.
See how the top ten cryptocurrencies in the world are performing today:
| # | Name (Symbol) | Price | 24h variation | 7d variation | YTD Variation |
| 1 | Bitcoin (BTC) | US$65,084.18 | 5.52% | 27.40% | 53.94% |
| 2 | Ethereum (ETH) | US$3,505.17 | 3.07% | 14.86% | 53.61% |
| 3 | Tether USD (USDT) | US$1.00 | 0.07% | 0.07% | 0.09% |
| 4 | BNB (BNB) | US$419.03 | 1.68% | 8.05% | 34.14% |
| 5 | Solana (SOL) | US$132.07 | 2.34% | 29.83% | 30.11% |
| 6 | XRP (XRP) | $0.6477 | 4.69% | 21.38% | 5.32% |
| 7 | USDC (USDC) | US$1.00 | 0.04% | -0.01% | 0.00% |
| 8 | Cardano (ADA) | $0.779 | 8.08% | 34.86% | 31.10% |
| 9 | Dogecoin (DOGE) | $0.1612 | 19.59% | 90.32% | 80.12% |
| 10 | Avalanche (AVAX) | $43.16 | 1.59% | 17.76% | 11.97% |
Source: Coin Market Cap
Investor attention: Bitcoin ETFs may suffer turbulence
Despite the great expectations surrounding bitcoin halving — the drop in the reward for mining the cryptocurrency — caution is needed.
This is because prices have already risen by more than 50% in 2024 and by more than 25% in the last week alone.
In other words, the quotes are quite stretched and corrections and profit-taking may occur along the way.
In this scenario, the less accustomed investor may suffer from price elasticity, considering that high volatility accompanies the cryptocurrency market.
Therefore, analysts give two tips for investors: do not allocate more than 5% of your portfolio to cryptocurrencies and, whenever possible, keep some free cash resources to make new contributions when the price drops.