🔥Bitcoin rebounds and reaches $64,000 👀
On Tuesday, the price of #bitcoin was trading at around $63,500, holding most of the gains from a 6-day rally that pulled it up from the low reached in late June of $58,300. This recovery is also happening amid the announced sale of Bitcoin of #strategy .
The rally we’re seeing in the market today has split analysts between those who believe the short-term recovery is not yet confirmed (they expect a new low) and those who see a structural long-term signal suggesting that Bitcoin has already bottomed out.
According to Wintermute, the move Bitcoin is making is a typical relief rally, so they believe the rebound is being driven by improving macroeconomic conditions, the Federal Reserve’s moderate stance, conditions in the Middle East, and recent positive news around #Ethereum . The combination of these factors explains the rally.
This rebound is not only being led by Bitcoin, but also by other #Criptomonedas such as ETH, SOL, BNB, XRP, and more—all up more than 5% since the start of July. One that has recovered the most is HYPE, rising more than 10% since the start of July.
Do you think Bitcoin has already bottomed out, or is a new low expected?
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$BTC
On Tuesday, the price of #bitcoin was trading at around $63,500, holding most of the gains from a 6-day rally that pulled it up from the low reached in late June of $58,300. This recovery is also happening amid the announced sale of Bitcoin of #strategy .
The rally we’re seeing in the market today has split analysts between those who believe the short-term recovery is not yet confirmed (they expect a new low) and those who see a structural long-term signal suggesting that Bitcoin has already bottomed out.
According to Wintermute, the move Bitcoin is making is a typical relief rally, so they believe the rebound is being driven by improving macroeconomic conditions, the Federal Reserve’s moderate stance, conditions in the Middle East, and recent positive news around #Ethereum . The combination of these factors explains the rally.
This rebound is not only being led by Bitcoin, but also by other #Criptomonedas such as ETH, SOL, BNB, XRP, and more—all up more than 5% since the start of July. One that has recovered the most is HYPE, rising more than 10% since the start of July.
Do you think Bitcoin has already bottomed out, or is a new low expected?
👉More crypto updates...
Share and follow me for more 👈😎
$BTC