๐ *Bitcoin Surges Past $61K: What's Fueling the Rally?* ๐
Bitcoin has once again crossed the $61,000 mark, marking a significant milestone that reflects growing investor confidence in the crypto market. Let's break down the key factors driving this surge:
๐น US Fed Minutes Boost Market Sentiment: The latest FOMC minutes suggest a potential rate cut shortly, sparking optimism across financial markets.
๐น Investor Confidence Soars: The Bitcoin Fear and Greed Index jumped from 29 to 39, showing renewed market enthusiasm. Derivatives data also point to a strong uptrend, with a 22.87% spike in trading volume.
๐น Bitcoin ETF Inflows: Institutional demand continues to rise, with $236.6 million flowing into US Spot Bitcoin ETFs over the past five days.
With BTC nearing the $64K resistance, all eyes are on whether it can maintain this momentum. Could we see a new all-time high soon?
