Bitcoin Surges to 19-Month High Over $42K on Leveraged Buying and Rate Hopes
• Bitcoin hit fresh 19-month high above $42K, fueled by "panic buying", lower rate expectations, and spot BTC ETF anticipation
• Total crypto market cap topped $1.5 trillion for first time since May 2022 Terra collapse
• Bitcoin futures trading at elevated premiums to spot price signals traders rushing to increase leverage
• Crypto funds see 10th straight week of inflows totaling $1.7B over past 10 weeks
• Reasons for caution lack of spot follow-through, 85% of BTC addresses in profit so risk of profit taking