Here is a list of factors that will influence the growth of Bitcoin and cryptocurrencies in the near future.
1. Weekend Rally: Retail traders typically become more active on Saturdays and Sundays, supporting Bitcoin's momentum.
2. Liquidity Influx: Over the past four weeks, more than $8 billion has left the crypto market, but in the past seven days, $3.3 billion has been attracted.
3. Spot Bitcoin ETFs: Investors have poured $500 million into these instruments, indicating strong interest from retail investors.
4. Support from Larry Fink: The CEO of BlackRock called Bitcoin an international payment instrument and expressed confidence in the future of cryptocurrencies.
5. Speculation Around Ethereum ETFs: The crypto community is closely watching the potential launch of these funds, which could increase interest in ETH.
6. Historical Trends: The crypto market usually rises before major events, such as the launch of Bitcoin futures in 2017.
7. Potential Changes in China: Reports suggest possible easing of restrictions on cryptocurrencies.
8. Postponement of Crypto Tax in South Korea: The ruling party plans to delay the crypto tax until 2025.
9. Consumer Price Index (CPI) Publication: Inflation indicators can impact the cryptocurrency market.
10. Political Events: Events such as the legal proceedings against Donald Trump may influence the market.
These factors can influence the cryptocurrency market and contribute to the rise in Bitcoin's value.