K33 Research stated that Bitcoin has surpassed the $100,000 level again with strong momentum and that this rise is based on healthier fundamentals, unlike previous breakouts.
According to the report, the fact that there are currently no signs of excessive highs in the derivatives markets and that overall market sentiment remains cautious could pave the way for a more sustainable rise and open the door to new record highs.
Bitcoin returned to six-figure levels last week, with a 9% increase. This rise is supported by broad-based immediate demand and a balanced situation, according to K33 Research. The spot trading volume increased by 51% week-over-week, reaching an average of $3.9 billion daily. However, while this increase in volume is noticeable, trading depth remains limited compared to periods when Bitcoin previously surpassed $100,000.
K33 Research attributed the market weakness in May to the effects of "fading bullish catalysts, holiday season, and tax season," and noted that this summer will be different. The report stated: "The strategy of 'holding and not selling in May' may pay off this summer."
On the other hand, K33 noted that the 'Trump trading' strategy was effective in the rising markets. The report stated: "Trump's policies are the main driver of the markets. His supportive rhetoric and actions towards cryptocurrencies seem to be creating upward pressure on the markets."
#CryptoCPIWatch #CryptoRoundTableRemarks #BinanceAirdropNXPC #TradeWarEases #TradeStories $BTC $ETH $XRP
