Bitcoin Soars To 2-Year High Above $57,000

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Bitcoin, the leading cryptocurrency, reached a two-year high on Tuesday, surpassing $57,000

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This is the highest level since November 2021, after a drop below $40,000 in January

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The surge is attributed to inflows into Bitcoin ETFs, which saw record trading volume on Monday

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ETFs enable easier access for retail investors to hold Bitcoin indirectly

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Analysts believe the limited supply of Bitcoin coupled with high ETF demand is driving the price up

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Increased interest from major players like MicroStrategy and Reddit is also contributing to the rally

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MicroStrategy recently purchased 3,000 bitcoins for $155 million

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Social media platform Reddit also invested in Bitcoin and other cryptocurrencies

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Bitcoin's market capitalization reached $1.11 trillion as a result of the recent surge

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So far in 2024, Bitcoin has gained over 33%

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