Bitcoin returns to $63,000, welcoming a new surge? Multiple market indicators reveal positive signals, lost friends come in and take a look
Recently, Bitcoin (BTC) has experienced a sharp price fluctuation and returned to the level of $62,000. This change has not only attracted widespread attention in the market, but also made investors full of expectations for the future trend of Bitcoin. So, is Bitcoin preparing for another surge?
First of all, from the perspective of macroeconomic data, the new data affects investors' expectations of the Federal Reserve's monetary policy. The recently released initial jobless claims have stabilized at a low level, indicating that the labor market continues to strengthen.
Now, with the rise in M2 money supply, the Bitcoin market is also expected to usher in new growth opportunities. This dynamic shows that Bitcoin is being more widely accepted and gradually integrated into a diversified portfolio. At the same time, investors' interest and confidence in Bitcoin are also growing. Since its launch in January, the total net inflow of U.S. spot Bitcoin exchange-traded funds (ETFs) has reached a staggering amount. This strong influx highlights investors' recognition and expectations of Bitcoin as a viable asset class.
However, despite the overall positive market trend, Grayscale GBTC has experienced a net outflow. This phenomenon may be related to investors' doubts about the sustainability of growth in the technology industry. In this context, investors may seek other high-growth opportunities, and Bitcoin has undoubtedly become a highly-watched option.
From a technical analysis perspective, Bitcoin prices have recovered under strong defense by buyers. In the past few hours, BTC prices have triggered strong buying pressure and broken through important barriers. Although facing slight downward pressure, the overall trend remains upward.
If the price can successfully hold above the key level and start to rebound to higher points, the bearish resistance level will shift, which may trigger a new upward trend. It is worth noting that short traders have suffered heavy losses in the recent market. A large number of short positions have been liquidated, indicating that the market has reached a consensus on the upward trend of Bitcoin. This phenomenon further confirms the strong performance of the Bitcoin market and investors' optimistic expectations for its future trend.
