Bitcoin Surpasses $55,000 for the First Time in 27 Months... 'Unstoppable Momentum'

"Spot ETF Inflows Drive Investment Demand"

The leading cryptocurrency Bitcoin surged on the 26th (local time), surpassing $55,000 for the first time in 2 years and 3 months.

According to the US cryptocurrency exchange Coinbase, at 8:50 PM (Eastern Time) on that day, the price of one Bitcoin traded at $55,508 (approximately 73.87 million KRW), up 6.42% from the previous day.

This is the first time Bitcoin has exceeded $55,000 since November 2021. After touching $52,000 on the 14th, Bitcoin fluctuated around the $51,000 level for more than 10 days, forming a trading range.

However, starting with a nearly 5% surge within two hours from the $51,200 level during the session, it settled at around $54,900 four hours later, then surpassed $55,000 and is currently eyeing the $56,000 level.

Bloomberg News analyzed that this rise came amid growing expectations of continuous capital inflow through Bitcoin spot ETFs.

[Image source=Reuters Yonhap News]