📈 Why is the crypto market increasing today? 🚀
The price of Bitcoin and other cryptocurrencies has increased today for several key reasons:
📉 CPI data is lower than expected:
Bitcoin reacted positively to lower-than-expected May CPI data, suggesting the possibility of an interest rate cut in 2024. Annual CPI was 3.3%, lower than forecast, which raised hopes that the Fed The US Federal Reserve (Fed) may reduce interest rates sooner than expected.
💥 Liquidation of leveraged positions:
Bitcoin's rise above $69,000 has led to mass liquidation of leveraged positions in the cryptocurrency market, especially short positions. This creates an effect that pushes Bitcoin prices higher.
📊 Increase network activity:
Bitcoin's "Age Consumed" index, which measures the amount of Bitcoin from previously inactive addresses moving again, has spiked. This shows an increase in network activity, a sign that there could be sharp price movements ahead.
Additionally, the altcoin market is also experiencing a recovery, with several major coins such as Polkadot and Avalanche recording significant inflows, indicating positive investor sentiment.
👉 For more details, you can see the original article on https://t.me/cryptoanalysisvn/1/1730
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