Bitcoin, the most valuable and most famous cryptocurrency on the markethas accumulated an overvaluation of almost 15% since the beginning of the week, making it catapult up to $35,000Levels not seen since May 2022 amid speculation that the US Securities and Exchange Commission (SEC) will finally approve the marketing of spot Bitcoin exchange-traded funds (ETFs) following the BlackRock proposal.

Bitcoin too registered an increase over the previous two weeks after the outbreak of the Palestinian-Israeli conflict, since investors use this type of asset as a safe haven, just like goldat a time when traditional markets such as stock markets are faltering.

In this regard, a report from CoinShares, an organization specializing in digital assets, highlights what has happened in recent weeks capital inflow has increased significantly in this asset to such an extent that accumulate influxes for four weeks in a row.

In this sense, the IG report signed by Sergio Avila notes that in the last 24 hours the volume of spot transactions exceeded the total amount of $35 billion.

Likewise, Avila noted that with the new optimism in Bitcoin broke through key resistance at $31.827.therefore, this now indicates the activation of a second bullish impulse that could lift Bitcoin prices to $41,300.

Bullish sentiment spread to other cryptocurrencies and Ethereumthe second-highest price, up nearly 10% in a week, to about $1,800 per unit.

This year Bitcoin doubled in price – in particular, it is overvalued by 105% – although it is still far from its all-time highs of November 2021, when it traded at $70,000.