Bitcoin’s price climbed above $122,000 Monday. The move was driven by a bullish Washington Executive Order and the three days in a row of Bitcoin Exchange-Traded Fund inflows that closed last week.
Henrik Andersson said that the decision was long overdue after a consolidation of a few months.
“In our view it was just a matter of time before it would break up. In this time we have seen positive ETF flows, more treasury companies buying Bitcoin and a number of positive developments coming out of the White House.”
BitcoinBTCTradingView data shows.
“Bitcoin has been stuck in a low-volatility band between $115,000 and $120,000 despite all the good news,” Cointelegraph reported that he said this.
Bitcoin’s two-hour rise is not attributed to any specific catalyst, but rather the US President Donald Trump’s alleged involvement. executive order It is seen as an advantage for the cryptocurrency industry to allow it in retirement plans.
This order could lead to an additional $9 trillion in funds flowing into Bitcoin, and the wider crypto industry.
Also, more Bitcoin purchases are on the way. Michael Saylor Sunday hinted On X, Strategy says it will continue to add Bitcoins to its $76.8 Billion stash. “If you don’t stop buying Bitcoin, you won’t stop making Money.”
Bitcoin ETF issuers Farside Investors also bought a total of $773 million in Bitcoin during the final three days of trading last week. data shows.
The Bitcoin Market is not Overheated
Despite the rally, the Crypto Fear & Greed Index score It is still in the “Greed” The zone is 70, which indicates the sentiment of social markets are not overheated at present.
Bitcoin’s value was just below $120,000 at the time of Monday’s score update, and it represented a 1-point gain from yesterday.
Related: Michael Saylor is not sweating the rise of Ethereum treasury companies
Google searches for Bitcoin have only increased by a mere 4%. risen The score was 48 points out of 100, a modest improvement on the previous 12 month high. The point fell between Nov.10-16, just a few weeks after Trump won the US election.
BTC and ETH drive crypto markets to new highs
Bitcoins’ rise to above $122,000 has also helped. make up for lost distance EtherETHBTC has seen a 3.3% increase in the past 24 hours, while.
ETH is a cryptocurrency. risen nearly threefold TradingView has risen from $1,435 in April 2009 to $4,315 as of the time this article was written. data shows.
CoinGecko reports that BTC’s and ETH’s recent price surges have also pushed total crypto-market cap up to $4.14 billion on Monday. This is a record high. data shows.
Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
