As Bitcoin's price nears its post-halving reaccumulation range, the market is buzzing with anticipation. Currently sitting above the critical $60,600 mark, Bitcoin's rally is fueled by an ongoing stock market surge, which has been supported by corporate share buybacks totaling $1.15 trillion. With growing interest in bullish options and increasing institutional confidence, Bitcoin appears poised for further gains.
However, uncertainty surrounding the upcoming U.S. 2024 elections introduces some caution among traders. Despite this, factors like short liquidations and positive ETF flows continue to drive Bitcoin's upward momentum. Major hedge funds are expanding their Bitcoin exposure, reflecting growing confidence in the cryptocurrency's future.
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