Bitcoin Surges to $62,500 on Strong US Jobs Data, Market Faces Volatility and Miner Challenges
Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...
Bitcoin’s price surged to $62,500, driven by whale accumulation and growing investor confidence. Positive regulatory developments and optimism around Bitcoin ETFs further fueled the rally.
Despite the surge, the market remains volatile, with short-term holders facing unrealized losses.
Traders are closely watching key levels as Bitcoin fluctuates, while the market cap has risen to $2.15 trillion.
The crypto market surged 11% overnight, reaching $2.105 trillion, with Bitcoin climbing back above $62,000. This rise is driven by renewed investor confidence, as U.S. Bitcoin ETFs acquired 3,376 BTC.
Additionally, the increase in new daily Bitcoin addresses signals growing interest from individual investors, reversing a recent decline.
According to Glassnode, new addresses rose from 203,536 in early June to between 286,000 and 337,000 in August, suggesting potential market stabilization.
450 Bitcoin are mined daily.
Today, the U.S. Bitcoin ETFs purchased 3,376 BTC
Read more on cryptonews.com
