Bitcoin Soars: Six Straight Days of Gains and Counting!
Bitcoin started the week slow, but quickly ignited, breaking two resistance levels in one day and closing above $44,000. This sparked market interest, sending trading volume soaring and propelling the price to reclaim the key $48,000 mark.
Here's the breakdown:
Feb 5: BTC started below $43,000, hinting at an upswing but failing to capture attention.
Feb 7: Boom! BTC surged past $43,000 and $44,000, closing above $44,000 with a 2.91% gain.
Feb 8: BTC continued climbing, eyeing $45,000 and fueled by increased demand for spot Bitcoin ETFs (inflows of $1.55 billion since inception).
Feb 9: Trading volume hit a one-month high of $39.3 billion, further strengthening BTC.
Feb 12: BTC sits at $48,163, marking six consecutive days of intraday gains and on track for a seventh. This feat hasn't occurred since October 2023!
Key takeaways:
BTC has gained 13% this week, adding a whopping $108.4 billion to its market cap.
Renewed market interest and increased trading volume are driving the rally.
Can BTC maintain this momentum and break further resistance levels? Stay tuned!