đWHAT IS MAKING THE PRICE OF BITCOIN GO UP?
đThe Bitcoin market has shown strength to exit the consolidation period that remains below the price of 73,700 (USD) recorded 3 months ago, the currency is registering higher minimums and higher maximums on a sustained basis for several weeks.
đThis scenario is being driven by demand driven by the approval of Ethereum exchange-traded funds (ETFs) in the United States and new economic data.
The PCE inflation indicator in the economic powerhouse came out as expected last week, which motivates expectations of a reduction in interest rates this year.
đ°As CriptoNoticias reported, Bitcoin ETFs this week accounted for their second largest daily capital inflow since their launch at the beginning of the year. Likewise, the purchasing appetite of investors with more than {1,000 (BTC) known as Whales}, increased to its maximum in 2 months.
đ°Meanwhile, most of the Bitcoin purchase options that sell in June are prices ranging from (USD 75,000 to USD 85,000). This shows that TRADERS are acquiring these instruments as a hedging strategy in case the price rises more than predicted.
