Friends, the price of Bitcoin has been rising rapidly recently, soaring by more than 8% and breaking through the $73,000 mark! There are several forces behind this!
First, there is a continuous influx of funds into spot ETFs. In addition, some major economies have started to play the old game of monetary easing again. Once the money bags are loosened, Bitcoin will naturally benefit. And once Donald Trump becomes president, the spring of cryptocurrency seems to have come, and everyone's expectations for friendly policies are getting higher and higher.
Another key factor in this bull market is that everyone has started to play leveraged bets. Now, more Bitcoin is deposited in futures exchanges rather than spot exchanges. This shows that the demand for BTC derivatives is getting stronger and stronger, and the market interest is bursting, which is a complete recovery from the dull state earlier this year!
The demand for Bitcoin has now returned to the level of February, and this momentum is to continue the bull market! Speaking of the next peak of Bitcoin, do you think it will soar directly to more than $170,000?
Some people may say that the price of $72,000 is already so high, is it too late to enter the market now? Hey, don't worry, history will speak. According to historical patterns, Bitcoin still has greater upside potential waiting for us! Take the MVRV ratio for example, it has recently broken through the 365-day SMA, which is a strong signal of a bull market rebound!
Looking at the previous cycles, Bitcoin has already peaked at the Fibonacci retracement level of 1.618 to 2.272. So the next peak may be between $174,000 and $462,000! The Bitcoin spot ETF market is also very hot, with the net asset value directly reaching $72.545 billion, accounting for 5.07% of the total market value of Bitcoin, which is the first time!
On October 29, the net inflow of spot ETFs reached $870 million, which is the third highest single-day inflow on record! BlackRock's IBIT ETF was the leader, with $643 million in easy money, and Fidelity's FBTC was not to be outdone, with an increase of $134 million.
Looking at the growth momentum of institutional investment and market enthusiasm, Bitcoin seems to be on a roll! This round of rebound may just be the appetizer for a larger bull market! Let's wait and see!
Brother Chuang has harmonious strategies and fresh Mima to share with fans every day;
Follow me, and you will not only become a winner in investment, but also an expert!
#美国大选后行情预测 #BTC☀ #doge⚡ #sol板块 #pepe⚡
