Bitcoin’s recent surge has captured the attention of investors and analysts alike. Several factors contribute to this upward trend.
Table of contents
Key Drivers
- Institutional Investment: Increased participation from institutional investors, particularly through ETFs, has significantly boosted demand.
- Macroeconomic Factors: Expectations of interest rate cuts by the Federal Reserve tend to fuel risk-on sentiment, benefiting Bitcoin.
- Scarcity: Bitcoin’s limited supply, relative to fiat currencies like the US dollar, inherently drives its value up, even with constant demand.
- Market Demand: Growing demand for regulated exposure to Bitcoin, especially through spot Bitcoin ETFs, contributes to price appreciation.
Breaking Resistance
Bitcoin’s ability to surpass key resistance levels suggests strong underlying momentum. If this continues, it may enter a new phase of price discovery.
US government
The U.S. government shutdown doesnt look like its going anywhere but that doesnt seem to be bothering Bitcoin all that much.
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