The price of tocoin rose 8.84% from the same time the previous day to $88,583. Earlier that morning, it briefly exceeded $89,000 and was on the verge of breaking through $90,000 (approximately 13.85 million yen).
Bitcoin has become more popular as an investment asset since former President Donald Trump was elected as the 47th President of the United States.
A representative indicator of this is the spot exchange-traded fund (ETF). The US spot Bitcoin ETF was launched on the 6th (local time) after the presidential election.
The ETF has recorded a "net inflow" since 2013, meaning more money has been flowing in than out of it.
Burak, a contributor at CryptoQuant
Kesmeci said, "After the US presidential election, the Coinbase Premium Index turned positive," making it clear that funds are being attracted to Bitcoin in the United States.
The Coinbase Premium is an indicator that shows the difference in the Bitcoin price traded on Coinbase and Binance. When the Coinbase Premium is positive, it indicates demand from U.S. investors.
This means that the number of cryptocurrency exchanges is high because Coinbase is the largest cryptocurrency exchange in the United States.
"The day after the presidential election, Bitcoin spot ETFs saw record trading volume, with BlackRock's IBIT ETF alone reaching $2.5 billion.
"This means that U.S. investors are not only interested in spot trading, but also in spot ETFs," he said.
2024/11/12 12:40 KST
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