$BTC Bitcoin is back above $70k and is within touching distance of posting a new all-time high as buyers become increasingly active ahead of the upcoming halving event. The recent, short-term, sell-off has now been fully retraced with todayâs move taking Bitcoin back above a cluster of recent highs between $71.2k and $71.8k. There is little in the way of technical resistance before BTC/USDÂ enters unchartered territory.
My telegram Contact @MrCaptainFx
The driver of Bitcoinâs robust rally over the last few months has been heavy institutional buying after eleven spot Bitcoin ETFs were approved in early January. In the first quarter of 2024, these eleven ETFs bought a net $12.1 billion worth of Bitcoin - $26.8 billion inflows vs. $14.7 billion outflows.
