Bitcoin surpasses $48,000 and Ethereum reclaimed the $2,500 level as the cryptocurrency bull market heats up. An analysis of global exchange-traded products (ETPs) with digital assets as underlying collateral revealed a 5% growth in Total Crypto Assets Under Management (AUM) in January, rising from $49.5 billion to $52.0 billion, according to analysts at Fineqia International.

The nine newly approved ETFs saw inflows of around $6.9 billion in January, offset by a net outflow from the Grayscale ETF. Despite this, total inflows resulted in a net inflow in excess of $1 billion for January.

“The light has turned green and investor traffic has started to move,” said Bundeep Singh Rangar, CEO of Fineqia, adding: “More vehicles are joining the ETF path as their confidence in digital assets grows.”

The price started a breathless rise after breaking the $43,500 resistance. Since the $48,800 levels we have reached are close to our last peak of $48,900, it is useful to minimize the risks we will take. As the price loses the $46,700-$47,000 levels on the hourly chart, the market structure may break and go for a minor correction. As long as these levels are not lost, $50,000 and then $52,000 are our first targets.