Bitcoin’s price soared to $122,000 Monday. The move was driven by the bullish Washington Executive Order and three days in a row of Bitcoin Exchange-Traded Fund inflows.
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 showed.
“Bitcoin has been stuck in a low-volatility band between $115,000 and $120,000 despite all the good news,” Andersson tells Cointelegraph.
Bitcoin’s recent two-hour surge is a result of President Donald Trump, who has been promoting the US dollar. executive order The industry was viewed as benefiting from the inclusion of cryptocurrency into 401(k).
It is important because it could allow another $9 trillion to be invested in Bitcoin and other crypto-related industries.
More Bitcoin is also on the horizon. Michael Saylor Sunday hinted In a statement, X That Strategy said that it would add Bitcoins worth $76.8B to its stash. “If you don’t stop buying Bitcoin, you won’t stop making Money.”
Bitcoin ETF issuers Farside Investors scooped up $773,000,000 worth of Bitcoin in the three last trading days that closed 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 was trading at less than $120,000 as the Monday score update took place, and it marked only a 1-point improvement from Sunday.
Related: Michael Saylor is not sweating the rise of Ethereum treasury companies
Google searches for Bitcoin have only increased by 12%. risen In the last seven days, the score was 48/100, compared with the previous 12 month’s highest. The point fell between November 10-16. This was a full week after Trump won the US election.
BTC and ETH drive crypto markets to new highs
Bitcoin’s surge above $122,000 helped as well make up for lost distance EtherETHBTC has seen a 3.3% increase in the past 24 hours, while.
ETH stands for ETH risen nearly threefold TradingView’s price has risen from $1.435 to $4.315 since the last time it was written, a rise of nearly $2,000 in just nine days. data showed.
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 showed.
Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow
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Source: cointelegraph.com
