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Cryptocurrency Market Surges with Bitcoin Breaking Through Resistance Level

On Monday, the global cryptocurrency market saw a surge as Bitcoin, the largest cryptocurrency by market capitalization, broke through its major resistance level at $53,000. Here are the gains and prices of the top three cryptocurrencies at the time of writing:

– Bitcoin (CRYPTO: BTC): +9.11%, $56,160
– Ethereum (CRYPTO: ETH): +4.05%, $3,230
– Dogecoin (CRYPTO: DOGE): +5.36%, $0.089

Record-Breaking Trading Volumes for “New Nine” Spot Bitcoin ETFs

The “new nine” spot Bitcoin exchange-traded funds (ETFs) have achieved a daily record on Monday, with trading volumes reaching $2.4 billion. This surpasses the previous record of $2.2 billion set on the first trading day in January of this year. Notably, BlackRock’s IBIT (NASDAQ:IBIT) and Fidelity’s FBTC were the top two ETFs with trading volumes of $1.29 billion and $576 million, respectively. Other popular ETFs, such as ARK 21Shares (BATS:ARKB) and Bitwise BITB (NYSE:BITB), also saw significant flows.

MicroStrategy Expands Bitcoin Portfolio with 3,000 Additional Bitcoin

MicroStrategy, one of the leading corporate holders of Bitcoin, has recently acquired an additional 3,000 Bitcoin, further solidifying their position in the cryptocurrency market.

Top Gainers in the Last 24 Hours

The global cryptocurrency market cap has now reached $2.13 trillion, with a 7.14% increase in the past 24 hours. The top three gainers in the last 24 hours are:

– Theta Network (CRYPTO: FLR): +39.39%, $2.08
– Stacks (CRYPTO: MNT): +22.40%, $3.09
– Akash Network (CRYPTO: AR): +17.90%, $4.73

S&P 500 and Nasdaq Composite Decline, Treasury Yields Experience Slight Increase

The S&P 500 and Nasdaq Composite both declined on Monday, with the S&P 500 falling by 0.38% to 5,069.53 and the Nasdaq Composite dropping by 0.13% to 15,976.25. Treasury yields also experienced a slight increase, putting pressure on stocks. The 10-year Treasury yield rose by approximately one basis point to 4.276%.

Bitcoin-Related Stocks See Surge in Afternoon Trading

As Bitcoin surpassed the $54,000 level for the first time since December 2021, stocks associated with the price of Bitcoin saw a surge in the afternoon. Notable increases include Coinbase (16.85%), Microstrategy Inc (15.86%), Riot Platforms (16%), and Marathon Digital (22%).

Analyst Predictions for Bitcoin’s Future

According to cryptocurrency analysts, Bitcoin’s price is on track to reach $200,000 in the near future. Analysts also predict that a $100,000 valuation for Bitcoin is inevitable.

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