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As Bitcoin Surges Past $51k, Could Bitcoin Minetrix Explode Next After Raising Almost $11m?

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Bitcoin’s (BTC) price has surged past $51,000 today, reaching its highest level since November 2021’s all-time high.

This impressive bull run comes during a time of growing institutional adoption and a more positive sentiment around crypto’s future in the financial landscape.

With the presale project Bitcoin Minetrix (BTCMTX) also raising almost $11 million in funding, could this new crypto be the next to explode in price once listed on exchanges?

Bitcoin Bulls Charge Towards $52k as Bears Finally Retreat

Bitcoin’s price surge today comes as the overall crypto market cap nears $2 trillion once again.

According to CoinMarketCap, the cryptocurrency market is now valued at a whopping $1.93 trillion – over 5% higher than yesterday.

This bullishness has caught many crypto bears off guard, with Bitcoin erasing all the losses it sustained yesterday and rising towards $52,000.

Moreover, data from CoinGlass reveals that over $144 million in Bitcoin shorts were wiped out in the past 24 hours alone.

Unsurprisingly, Bitcoin’s performance has positively affected the altcoin market.

Leading coins like Solana (SOL) and XRP (XRP) have posted gains, while meme tokens such as dogwifhat (WIF) are up massively.

The Crypto Fear & Greed Index even ticked up to 79 yesterday – its highest level in over two years.

With the market in a euphoric phase once more, some traders believe a correction could be on the horizon.

However, most market participants remain bullish, expecting Bitcoin to continue rising in the days ahead.            

Rapidly-Growing Spot ETFs Fuel Bitcoin’s Rally

As Bitcoin surges, the growth of spot BTC ETFs is likely contributing to the coin’s momentum.

BlackRock’s iShares Bitcoin Trust (IBIT) recently became the first spot ETF to pass 100,000 BTC under management after aggressively buying Bitcoin since it launched in January.

IBIT has multiplied its holdings by over 3,700% in just one month, demonstrating huge demand from institutional investors now able to gain exposure through regulated funds.

Meanwhile, other spot ETFs, like Fidelity’s Wise Origin Bitcoin Fund, have also been rapidly accumulating BTC, with inflows breaking records nearly every day.

Just yesterday, combined inflows hit $631 million across the 10 ETFs.

As major traditional finance players steadily buy more Bitcoin, it removes selling pressure and helps propel the coin’s price higher.

Moreover, with this trend showing no signs of slowing down, there’s a growing belief that spot ETF accumulation could be an extremely bullish feedback loop in the months ahead.

Is Bitcoin Minetrix the Next Crypto Project Set for Liftoff After Raising $10.8m?

As institutional interest propels Bitcoin back toward its all-time high, investors are also keeping an eye on new projects that could be poised for their own bull runs.

One such project is Bitcoin Minetrix, which has already raised over $10.8 million in its presale phase.

Bitcoin Minetrix debuts a novel Stake-to-Mine model that allows token holders to participate in BTC mining and earn rewards.

By staking BTCMTX in the tokenized mining ecosystem, everyday crypto enthusiasts can receive a share of the block rewards – without needing specialized mining equipment.

This innovative model has captured significant attention, with the multi-stage presale now a third of the way towards its hard cap goal.

Those who buy BTCMTX tokens during the presale can earn yields of up to 62% per year, providing yet another stream of passive income.

As capital continues flowing into the presale, BTCMTX looks set to make a splash once it eventually lists on exchanges.

Some members of Bitcoin Minetrix’s Telegram group even believe BTCMTX’s price could explode 10x (or more) once it hits the open market.

With Bitcoin looking extraordinarily bullish and the wider crypto market in an uptrend, 2024 is shaping up to be a breakout year for Bitcoin Minetrix.

Visit Bitcoin Minetrix Presale

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