Is $120k the Bitcoin Top?
Main Idea
The article discusses Bitcoin's price movement around $120k, the shifting dynamics between Bitcoin and Ethereum, and broader market trends including ETF inflows and geopolitical impacts.
Key Points
1. Bitcoin dipped after touching $120k, raising questions about the start of a bear market, while Ethereum showed significant gains.
2. Ethereum's market cap is nearing $450 billion, close to the entire crypto market cap of half a trillion dollars mentioned by Vitalik Buterin in the past.
3. The total crypto market cap is $3.8 trillion, not significantly higher than the 2021 peak of around $3 trillion, with a reshuffling of capital towards Bitcoin.
4. Ethereum ETF inflows, led by BlackRock, have surged, with $231 million in a single day, surpassing Bitcoin's $226 million.
5. Geopolitical events, such as Israel's attack on Iran, impacted Bitcoin's hashrate and market stability, while stocks reached all-time highs.
Description
Bitcoin dipping after touching $120k while ethereum stays stable has many investors wondering: is this just a dip or the beginning of a bear market?
