Bitcoin is approaching its historical peak

Inflows into the spot Bitcoin ETF surged once again in February, reaching nearly $500 million a day earlier. The speed of inflows attracted the attention of investors. According to data from on-chain data provider Checkmate, Bitcoin is steadily closing the gap with Gold, traditionally considered the leading hard currency.
Bitcoin and Gold Comparison Analysis by crypto analytics company Checkmate shows that Bitcoin's presence in this investment-grade hard money market is rapidly expanding. Currently representing 15% of the total investable market cap, BTC's growth trajectory could point to a promising future in hard currency assets. In a notable observation, analyst Bitcoin Munger highlighted significant inflows into not one, but two Bitcoin Exchange Traded Funds (ETFs) last week.Inflows into the spot Bitcoin ETF surged once again in February, reaching nearly $500 million a day earlier. The speed of inflows attracted the attention of investors. According to data from on-chain data provider Checkmate, Bitcoin is steadily closing the gap with Gold, traditionally considered the leading hard currency. Subheadings Bitcoin and Gold Comparison Expert Opinion on BTC Bitcoin and Gold Comparison Analysis by crypto analytics company Checkmate shows that Bitcoin's presence in this investment-grade hard money market is rapidly expanding. Currently representing 15% of the total investable market cap, BTC's growth trajectory could point to a promising future in hard currency assets. In a notable observation, analyst Bitcoin Munger highlighted significant inflows into not one, but two Bitcoin Exchange Traded Funds (ETFs) last week. Additionally, the analyst pointed out that gold is not among the top 20 assets with strong entries. The stated observation underscores the evolving landscape of traditional safe-haven assets in the face of Bitcoin's rise. Following the release of US CPI data for January, the Bitcoin (BTC) price experienced a small decline but continues to hold at $49,500. Additionally, strong Bitcoin ETF inflows highlight that institutions continue to show interest in this asset class as Bitcoin continues to mature as an asset class.Another popular cryptocurrency analyst, Michael van de Poppe, appreciated the strong inflow into Bitcoin ETFs. However, he noted that there is no guarantee that inflows will continue to increase from here. Michael Van de Poppe added that Bitcoin price will continue to rise as long as it maintains $46,000. According to Poppe, BTC price may rise to $55,000 during the pre-halving rally. Another market analyst, Rekt Capital, believes that the negative situation before the halving is over and BTC has already entered the pre-halving rally phase.Bitcoin (BTC) Price Remains Stable Bitcoin managed to recover and maintain its strong stance after a sharp decline amid turbulent global market activity brought about by the above-expected US inflation report. The negative thing from an economic perspective is that the possibilities based on expectations of rapid interest rate changes have decreased slightly.On the other hand, all eyes turned to the Bitcoin halving, which is expected to take place in April. When Bitcoin performances during the halving periods are examined, the expectation seems to support the upward outlook. This event, which will halve the rewards earned by miners, is known for its great impact on the rise in prices, based on historical studies. Speaking to Bloomberg, Caroline Mauron, co-founder of Orbit Markets, clarified the situation with the following words:What Awaits BTC? According to data provided by on-chain data provider Santiment, it was reported that the decline in BTC price yesterday caused a polarization among investors. While Santiment analysts state that a slight price pullback could bring about significant changes in sentiment, they reveal that a panic sell-off could potentially occur, which could justify investor strategies aimed at buying at the bottom.Such a possible scenario would probably create bigger question marks among investors and could cause weak-handed investors to leave BTC quickly. Finally, a review of the Consumer Price Index (CPI) reports of the previous three months by Santiment reveals that all announcements coincide with important medium-term transformation processes in the crypto market.As of writing time, Bitcoin appears to have recovered. Investors' confidence seems to have been restored in Bitcoin, which returned to the $ 49,600 level after its sharp decline yesterday.