Bitcoin (BTC) price hit $50,000 on Monday, a level last seen on December 28, 2021, more than two years ago.

BTC/USDT 1-day chart

The new retest comes despite the Super Bowl disappointing the BTC community on Sunday night as a related commercial was not displayed. Nevertheless, Twitter founder and former chief executive Jack Dorsey did not disappoint. The Bitcoin maximalist showed up with a “Satoshi” T-shirt. 

The $50,000 milestone also comes amid growing optimism for the BTC halving, expected around April 24, with approximately 10,000 blocks remaining until the event. 

Meanwhile, the spot BTC exchange-traded funds (ETFs) narrative continues to drive markets. Reports indicate that assets under management (AUM) have broken a 30-year record in the first month of trading. 

Specifically, VC investor Bitcoiner and entrepreneur Anthony Pompliano said in an appearance on CNBC that while there have been 5,500 ETF launches over the last 30 years, spot BTC ETFs have been able to beat all ETFs launched since.

Notably,  none of the earlier ETFs were able to collect $3 billion of inflows during the first month of trading.

Wall Street appears to be buying BTC en masse with data showing purchases upwards of 12.5x more BTC per day than the network can produce. This leads to increasing demand and price.

Peter Schiff, a renowned economist and strategist says the turnout in Bitcoin price looks like a pump-and-dump scheme is going on with BTC and the spot ETFs. With this, he anticipates a "massacre" once hype around the Super Bowl and the Valentines celebrations dies off. 

With the price surge, almost $116 million in short positions have been liquidated against almost $57 million in long positions.

BTC liquidations


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Crypto trading volume declines further, signaling waning trader enthusiasm and market momentum

Crypto trading volume declines further, signaling waning trader enthusiasm and market momentum

The total crypto market capitalization lost $1.01 trillion since January, while Santiment data shows that crypto-wide trading volume has dropped since February’s peak. For a healthier and more sustainable recovery, bulls look for rising prices accompanied by increasing volumes; until trading activity picks up, cautious market sentiment is likely to prevail.

More Cryptocurrencies News
BNB price tops $570 as Binance receives $2 billion investment from Dubai

BNB price tops $570 as Binance receives $2 billion investment from Dubai

BNB price rose as high as $574 on Thursday as markets reacted to news that Binance received major investments from an Abu Dhabi based firm. Derivative markets analysis shows how BNB traders are repositioning amid the latest swings in market sentiment. 

More Binance News
PEPE price outperforming DOGE and SHIB as US CPI boosts Crypto markets

PEPE price outperforming DOGE and SHIB as US CPI boosts Crypto markets

PEPE price crossed the $0.00007 for the first time this week as markets reacted to positive macro market signals. Early insights show crypto traders are displaying high risk appetite at the onset of the current market rally. Could this sustain PEPE price uptrend along with the rest of the memecoin market.

More Pepe News
XRP records slight gains as Ripple's battle with SEC nears end

XRP records slight gains as Ripple's battle with SEC nears end

Ripple's XRP recorded a 2% gain on Wednesday following rumors of the company nearing an agreement with the Securities & Exchange Commission (SEC) to end their four-year legal battle.

More Ripple News
Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?

Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?

Bitcoin price extends its decline on Friday, falling over 5% so far this week. BTC uncertainty and volatility spikes liquidated $1.67 billion as the first-ever White House Crypto Summit takes place on Friday.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP