Bitcoin broke through $67,000 in the early morning, rising nearly 5% in 24 hours, leading the market
Bitcoin hit a high of $67,000 at 3 a.m. and has achieved significant gains of nearly 5% in the past 24 hours. This performance has even surpassed Ethereum, which is about to launch an ETF next week, causing widespread market confusion. focus on.
Regarding this sudden rise, many fans have asked about the reasons behind it. From a macro level, there haven’t been any major data releases or news reports, and there hasn’t been any new positive news for the cryptocurrency market itself. So, what exactly is driving Bitcoin’s rise?
I can only speculate that it may be related to the news that Biden is considering withdrawing from the race. This news may increase the possibility of Trump being re-elected, and Trump’s plan to attend a Bitcoin conference next week may become one of the key factors boosting market sentiment. However, this once again confirms that the current market is still mainly driven by emotions.
From a data analysis perspective, today's market conditions are not significantly different from those in the past. Early investors showed no more signs of leaving the market, and the main selling pressure still came from investors who had made profits in the past week. The support range between $64,000 and $69,000 remains solid, and the overall market performance is stable.
As I have emphasized many times recently, in the absence of actual good or bad information, the market is more inclined to show a wide range of fluctuations. Bitcoin’s rise may be a reflection of this market characteristic.
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