Bitcoin recorded its fourth highest single-day market value increase since December 2021 this Monday
Glassnode data shows that on Monday, January 8th, Bitcoin's market value increased from $850 billion to $925 billion, a single-day increase of about $75 billion, marking the fourth highest single-day change in Bitcoin's market value since December 2021. The data also shows that since 2024, Bitcoin has outperformed MicroStrategy stock price against the trend. As of now, Bitcoin has risen by 5.6% since the beginning of the year while MicroStrategy's stock price has fallen by 15.6%. Analysts believe that as the potential approval of spot Bitcoin ETF approaches, investors are withdrawing from MicroStrategy stocks and turning to purchase the upcoming ETF.
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