) briefly registered green candles after jobs announcement. There are several reasons for the recent movement.The current rally in BTC and altcoins could indicate an increase in confidence in the market following several key developments.
Many traders agree that if the Fed were to pivot on its current policy of quantitative tightening and interest rate hikes, BTC price could surge to the upside and liquidate a significant portion of the short interest in futures contracts. The S&P 500 provides a general overview for the economy in general. Currently, Bitcoin and the S&P 500 share a high correlation coefficient.Therefore if interest rates ease and the economy grows, Bitcoin could reverse course if a similar turn-around were to take place in equities markets. The better the macro climate, the better for Bitcoin price.
A primary catalyst for the rally appears to be the growing institutional interest in Bitcoin from companies like BlackRock and Fidelity Investments, both of which appear to be in the process of filing for a spot Bitcoin ETF.
Despite negative news regarding crypto lender Genesis, Bitcoin price continues to rise. The rise in Bitcoin price after Genesis filed for bankruptcy may mean that the news was already priced into BTC.
Yay! Nothing like rising prices to make life more enjoyable. blessed
🫡🗽🔺🗽❤️
🎈
Not CPI. Chinese guy’s printed stable coin.
Bulls can Run... But not as Fast as Stallion can Coredao_Org Coredao_Devs CoreDao_Org core btc EVM ETH
On the back of industry support and emerging use cases, there is once again a growing demand for Bitcoin and other cryptocurrencies, and offering them as an investment option can help banks attract and retain customers who are interested in this type of investment
bitcoin will rally up for a while till month end.
Factors that led to spike: Powel speaks tomorrow so motherfuckers squeeze shorts into resistance and bait longs
IMO the question is wrong. What's going on with PPL 😂 not with BTC
If we had a penny for everyone who asked that 😅
If it's a bullrun or a bulltrap, it doesn't matter! Since, the long term that matters
Why not? Uponlyvember
Bull run will come! 🚀 What is your strategy for the current market?
Market-maker setting up to go short. Gotta get that liquidity first.
Its a bulltrap nothing else
Why bitcoin price down this month/year?, 🤡🤡.
Simple, more buying than selling
It's not? Lol it's just in the same zone but the top of the zone
Because even dead cats bounce if dropped from high enough
So that it can crash Black Friday pre New York session LOL
Up eh…
maybe coz it fell down from 69 k to 15k.
lmao.. exactly…. Why the helll is it up?
Thanks for the explanation. It helps to better understand the market situation
Because there's rumors that Xi/China might loosen their ZERO COVID policy which will open up the supply chains and help bring down Inflation. If Xi does that, the markets'll go RISK ON again, and we'll be back in action. Today was a 'BUY THE RUMOR' day. Simple really