Bitcoin started to rise last night. I have already told you about the analysis of Bitcoin breaking through 7. What a pity!
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加密老狼
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Analyzed from five dimensions,
Here’s why the price of Bitcoin (BTC) is expected to rise back to $70,000:
1. Significant inflows of ETF funds: Recently, ETF funds have experienced net inflows for five consecutive days, totaling approximately US$1 billion. Especially in the past three days, fund inflows have reached as high as US$700 million. This strong inflow signal bodes well for investor optimism towards BTC.
2. Exchange BTC outflow trend: The number of BTC currently flowing into the exchange is limited, just over 2,000, while the overall market trend shows that BTC is flowing out of the exchange. This shows that BTC holders in the market prefer long-term holdings rather than short-term trading, providing a solid foundation for the rise in BTC prices.
3. Promotion by CME Group: CME Group plans to launch spot Bitcoin contracts, a move that marks further recognition of the cryptocurrency market by mainstream financial institutions on Wall Street. This will have a positive impact on BTC, driving its price upward.
4. Market speculation on interest rate cut expectations: An interest rate cut policy is expected to be implemented this year. Before the rate cut actually comes, the market's speculation on interest rate cut expectations will bring benefits to BTC. Especially if the interest rate cut policy is announced in September, it will most likely lead to optimism in the market sentiment, thereby pushing the BTC price back up. Therefore, investors currently holding BTC are advised to remain patient to avoid missing out on opportunities.
5. Economic data is good for BTC: In addition to last month’s CPI data being lower than expected, other economic data such as non-agricultural data have a positive impact on BTC. In addition, U.S. household debt reached a record level in the first quarter, reflecting the repayment pressure faced by many Americans, which further enhanced the appeal of BTC as a safe-haven asset, thus helping its price rise. #BTC走势分析 #以太坊ETF批准预期 $BTC $ETH
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