Coinspeaker
Bitcoin Rally Above $56.6K Ignites L2 and BRC-20 Bullish Outlook
The heightened demand for Bitcoin (BTC) as an asset class by institutional investors has significantly bolstered its bullish sentiments. On Monday, MicroStrategy Inc (NASDAQ: MSTR) announced that it recently acquired 3,000 Bitcoins at $155 million, thus cumulatively holding 193,000 BTCs. Additionally, CoinShares, a leading European digital asset investment company, announced that the crypto market recorded a total cash inflow of around $598 million with the majority destined for Bitcoin’s spot ETFs.
Consequently, the Bitcoin price rallied to a fresh yearly high of around $56,700 in the past 24 hours. The notable Bitcoin rise, especially before the upcoming halving, has increased the overall crypto bullish outlook, particularly Web3 projects with real-world utility like Layer-Two (L2) networks.
Bitcoin L2 Networks and BRC-20 on the Rise
As BTC price reached a new 25-month high, L2 tokens for ne
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