According to Cointelegraph: The price of Bitcoin (BTC) has made an impressive leap, soaring over 3% as of September 18 and crossing the $27,000 threshold for the first time in September. This increase is attributed to the strong weekly close that has paved the way for an optimistic start to Wall Street trading.
Independent market analysts have confirmed the returned momentum among Bitcoin bulls. Michaël van de Poppe, founder and CEO of trading firm Eight, indicated that the upward trend seems promising, encouraging investors that it's an opportune time to acquire assets.
On the other hand, Daan Crypto Trades has tempered enthusiasm with caution, highlighting surging open interest reaching levels previously seen after Grayscale's judicial victory against US regulators.
The Bitcoin bullish trend appears unblemished by the rising strength of the U.S Dollar Index (DXY), which is believed to usually exert an inverse influence on Bitcoin. Despite expectations that interest rates would remain unchanged later in the week, DXY broke the 105 level for the first time since mid-March.
James Straten, research and data analyst at CryptoSlate, observed the resilient performance of Bitcoin, stating, "Bitcoin hit $27,000, while the DXY is above 105. The last time DXY was trading at 105 was March when Bitcoin was trading at less than $20,000."
