robloxblockchain| What's going on? Bitcoin skyrocketed again! In one day, nearly 60,000 people sold out

On May 16, the digital currency market was booming. As of press time, Bitcoin rose by 6.robloxblockchain.31%, quoted at US$65,804.4.

The digital currency market has been celebrating all the way, with multiple varieties rising by more than 20% in a single day.

According to data from cryptocurrency testing website coinglass, a total of 58751 people have been exposed in the past 24 hours, with a total amount of US$159 million. The largest single warehouse receipt occurred in OKX-BTC-USDT-SWAP, worth US$2.1146 million, equivalent to approximately 15.26 million yuan.

There are three main reasons for the sudden rise in the Bitcoin market: first, the continued hype of the Hong Kong Bitcoin Spot ETF; second, the weak core CPI data in the United States last night boosted expectations of interest rate cuts; and third, the Chicago Mercantile Exchange Group is planning to launch Bitcoin trading.

Bitcoin spot ETF is hot

Although mainland China prohibits the sale of virtual asset-related products, investors can still invest in Bitcoin through other markets. According to Hong Kong's South China Morning Post, investors from mainland China occupyrobloxblockchainThe attendance rate of the Bitcoin Asia Conference in Hong Kong was 50%.

In addition to Asia, Bitcoin spot ETFs in other regions of the world have also been hotly speculated.

UBS, Switzerland's largest bank, owns 3600 shares of BlackRock ETF(IBIT), according to SEC filings. Boston-based Bracebridge Capital reported holding $433 million worth of Bitcoin through ETFs. Bank of Montreal also disclosed its Bitcoin spot ETF holdings in a new SEC filing.

In addition, on May 16, it was reported that the Chicago Mercantile Exchange Group was planning to launch Bitcoin trading. CME has held discussions with traders who want to buy and sell Bitcoin on regulated markets. This plan has not yet been finalized.

A few days ago, rumors circulated on the Internet that Musk entered the market to buy a large amount of bitcoin, but the news was later refuted by officials. The Hong Kong Securities and Futures Commission said it suspected it was a cover for "fraudulent activity related to virtual assets" and warned that the group used three websites and two Facebook pages to conduct cryptocurrency fraud.

Affected by macro factors

Recently, Bitcoin has experienced great fluctuations, which is mainly affected by macro factors. Judging from the recent trend of Bitcoin, it has basically risen and fallen in the same direction as gold and silver.

On Wednesday night, data released by the U.S. Department of Labor's Bureau of Labor Statistics showed that CPI rose 3.4% year-on-year in April, consistent with market expectations, with the previous value of 3.5%. The core CPI of the United States rose 3.6% year-on-year in April, consistent with market expectations, with the previous value of 3.8%.

The slowdown in U.S. inflation in April strengthened market expectations that the Federal Reserve would cut interest rates as early as September. The US dollar index once hit a new low in nearly five weeks. Both gold and silver futures have now risen sharply, and the Bitcoin market has risen sharply.

Proofreading: Gao Yuan