🤔What are the reasons behind the rally that led $BTC to rise 37% since the end of July.
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Regulatory normalization in the U.S., progress on bitcoin ETFs, and renewed appetite for risk explain part of the rebound, while analysts point to other factors behind the rally.🤔
🧡Normalization of the regulatory framework for cryptocurrencies in the United States.
🧡The consolidation of spot bitcoin exchange-traded funds (ETFs) as a vehicle for institutional access.
🧡The renewed appetite for risk following easing in trade tensions with China.
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Meanwhile, crypto analyst Lark Davis also published in his n3wsl3tt3r a series of reasons that, according to his analysis, explain the rebound:
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The market absorbed the Fed rate hikes and the failure of Law #CLARITY . Davis said both events were bearish factors, but he believed they were largely already priced in by the market.
So, once they played out without bitcoin registering significant declines, investors were able to absorb and move past the bad news, clearing the way for further gains.
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A short squeeze. Davis noted that there was a large amount of short positions accumulated just above US$82,700. When bitcoin broke above that level, liquidations began and traders were forced to buy in the spot market to cover their losses, which pushed prices even higher.
By late Monday afternoon, more than US$700 million in short positions had already been liquidated.
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Strategy and Strive’s purchases. Both firms acquired 950 and 1,355 bitcoins, respectively. “When buyers return to the market after sellers run out, prices tend to rise,” Davis concluded.🤨
$BNB
$OPG
#Dato
#Noticias
🤔🤔🤔
Regulatory normalization in the U.S., progress on bitcoin ETFs, and renewed appetite for risk explain part of the rebound, while analysts point to other factors behind the rally.🤔
🧡Normalization of the regulatory framework for cryptocurrencies in the United States.
🧡The consolidation of spot bitcoin exchange-traded funds (ETFs) as a vehicle for institutional access.
🧡The renewed appetite for risk following easing in trade tensions with China.
🤨
Meanwhile, crypto analyst Lark Davis also published in his n3wsl3tt3r a series of reasons that, according to his analysis, explain the rebound:
🤔🧐🤔
The market absorbed the Fed rate hikes and the failure of Law #CLARITY . Davis said both events were bearish factors, but he believed they were largely already priced in by the market.
So, once they played out without bitcoin registering significant declines, investors were able to absorb and move past the bad news, clearing the way for further gains.
🤔🧐
A short squeeze. Davis noted that there was a large amount of short positions accumulated just above US$82,700. When bitcoin broke above that level, liquidations began and traders were forced to buy in the spot market to cover their losses, which pushed prices even higher.
By late Monday afternoon, more than US$700 million in short positions had already been liquidated.
🧐🤨
Strategy and Strive’s purchases. Both firms acquired 950 and 1,355 bitcoins, respectively. “When buyers return to the market after sellers run out, prices tend to rise,” Davis concluded.🤨
$BNB
$OPG
#Dato
#Noticias