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Samsung Galaxy S25 series is expected to make its debut early next year. Rumour mills hint towards major changes coming to Samsung's flagship smartphone lineup in terms of hardware. The latest leak comes courtesy of a tipster who has shared images of the alleged cases of the Galaxy S25 series. The images suggest a shift in the design strategy of the purported top-of-t... from Gadgets 360 https://ift.tt/y8UWjcI
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Investment in Bitcoin rockets up to $1 trillion as investors, ‘cryptobros’ hype up resurgence

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In a major milestone for the cryptocurrency market, the total investment in Bitcoin surged past the $1 trillion mark on Wednesday, marking the first time since November 2021. This surge was fuelled by continuous inflows into US spot Bitcoin exchange-traded funds (ETFs), which provided crucial support to Bitcoin prices.

On Wednesday, Bitcoin’s value soared to $51,606, marking a 25-month high with a 4.1 per cent increase for the day. This surge propelled Bitcoin’s market capitalization to $1.005 trillion, according to data from Coingecko.

However, it’s worth noting that the all-time high for Bitcoin’s market cap was $1.28 trillion, reached in November 2021.

Since the beginning of February, Bitcoin has witnessed a remarkable uptick of around 20 per cent, poised to record its most significant monthly rise since October. Notably, Bitcoin investments constitute over half of the $2.01 trillion invested in the overall cryptocurrency market, which encompasses other digital assets like Ether.

Analysts attribute much of the recent price action to strong inflows into newly listed US ETFs. Data from LSEG Lipper indicates that capital flows into 11 US spot Bitcoin ETFs surged to $1.64 billion in the week leading up to Wednesday.

Over the past five trading sessions alone, these products attracted $409 million in inflows, following their regulatory approval and subsequent trading launch in January.

Analysts from B2C2, a crypto liquidity provider, highlighted the correlation between price movements and capital flows in the cryptocurrency market. They anticipate that if the current pace continues, substantial inflows will likely drive further price appreciation for spot Bitcoin.

In tandem with Bitcoin’s rally, shares of US-listed cryptocurrency firms experienced pre-market gains on Wednesday. Notable mentions include Coinbase, which saw a 7 per cent increase, while mining companies like Riot Platforms and CleanSpark surged nearly 9 per cent and 16 per cent, respectively.

Bitcoin’s journey has been tumultuous, with its all-time high of $69,000 achieved in November 2021 followed by a period of struggle throughout 2022 and the early part of 2023. Factors such as global central banks’ monetary tightening and notable failures within the crypto industry, including those at leading exchanges like FTX, contributed to this turbulence.

However, recent months have seen renewed optimism fueled by hopes of a soft economic landing and the introduction of spot Bitcoin ETFs. These ETFs, hailed as a game-changer for the industry, offer investors exposure to Bitcoin without the need to directly hold the asset.

Ether, the second-largest cryptocurrency by market capitalization, also experienced a surge, reaching $2,742, its highest level since May 2022. This upward momentum underscores the broader bullish sentiment within the cryptocurrency market, driven by both Bitcoin’s resurgence and favourable market conditions.

(With inputs from agencies)



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