Bitcoin price reached $50,000 on Monday, setting the stage for a retest of higher price levels amid renewed confidence in its pre-halving performance. With BTC notching yet another big move, the positive sentiment cascaded into the altcoin market – Ethereum, Solana, Cardano and Bitcoin Cash among notable gainers.
Meanwhile, traders continue to show confidence in new crypto project Bitbot.
Wall Street loves Bitcoin, analyst says
Bitcoin’s noteworthy performance on the day has analysts saying a breakout above $50k could follow given Wall Street’s ongoing love for the benchmark crypto. BTC has traded bullish since early January when the SEC approved spot Bitcoin ETFs.
Demand across Wall Street helped the cryptocurrency to weather downside pressure that came with massive outflows from the Grayscale GBTC ETF.
As data digital asset manager CoinShares shared on Monday showed, the crypto products investment space saw inflows of $1.1 billion last week. This huge boost from institutional investors highlights the growing bullish outlook Bitcoin is inculcating across Wall Street.
On Monday, Anthony Pompliano, the founder of Pomp Investments, told CNBC in an interview that demand for BTC has surged to 12.5x the daily mining output. The buying pressure is from spot ETFs demand, the investor noted.
“Wall Street LOVES bitcoin. They are buying up 12.5x more bitcoin per day than the network can produce. The march to a new all-time high is underway if this continues,” Pompliano added in an X post.
Bitbot sees momentum as market warms up for bull run
As Bitcoin bulls target further gains above $50k, analysts are saying that capital rotation out of BTC could soon fuel an altcoin charge. The overall picture out of this is that top presale tokens such as Bitbot might be among those to skyrocket when the bull market hits the freeway.
Bitbot, the first non-custodial trading bot on Telegram, has attracted significant interest from traders since its presale went live. Although designed like other automated Telegram trading bots, its Bitbot’s self-custody, anti-MEV and anti-rug features that have set it apart as one of the best trading apps.
The audited project also taps into the MPC technology of decentralized digital custody provider Knightsafe, bringing keyless wallet management to users. The focus on non-custodial integration means users will at all times retain control of their assets as the trade.
BITBOT: Is it a good buy today?
While traders eye Bitbot’s game-changing features and offers, including access to institutional-grade trading tools, there’s another key factor pulling in investors. This has to do with the potential for the native token BITBOT to be one of the key investment opportunities in the crypto space.
BITBOT will not just be the utility token of the Bitbot trading system, it will also give governance rights to holders. More than that, BITBOT is the token that will give holders access to an exclusive revenue-sharing model. Hold BITBOT and share a percentage of the daily revenue.
Traders will also get other exclusive perks such as the gem scanner, which could see users get early-bird access to real presale gems before the broader market FOMOes in.
As Bitbot navigates the presale, BITBOT price will rise. In stage 3, it’s priced at $0.011 and will keep rising through the remaining 12 stages. This offers an early opportunity for crypto traders. Meanwhile, the likelihood for further gains post-presale makes buying now a potentially great bet. Bitcoin’s surge to $50k ahead of the next halving adds to this bullish picture.
