Bitcoin price rose slightly by 0.37% today, reaching the level of $97,212 or equivalent to Rp1,549,351.62. Here are some factors that influenced the increase in Bitcoin price:
*Key Factors*
1. *Derivatives Market Stability*: Bitcoin derivatives market is currently in a healthier condition, which is needed for a surprise rally to a new all-time high ¹.
2. *Institutional Interest*: Bitcoin exchange-traded funds (ETFs) in the United States added $15.2 billion in assets since October 10, indicating strong interest from institutional investors ¹.
3. *Business Purchases*: MicroStrategy, Riot Platforms, and Marathon Digital have been actively buying Bitcoin in recent weeks, with MicroStrategy buying 21,550 BTC at an average price of $98,783 per Bitcoin ¹.
*Supporting Factors*
1. *Price Volatility*: Bitcoin’s drastic price volatility has scared off newcomers and reduced the attractiveness of the investment, but reduced leverage has given holders more confidence ¹.
2. *Futures*: Bitcoin’s monthly futures contract remains 15% above the spot market price, providing room for additional bullish positions ¹.
3. *Funding*: Funding rates peaked at 9% per month on December 5, but have been flat since the price dropped to $94,200 on December 9 ¹.
