$BTC The price of Bitcoin (BTC) is increasing due to several factors, including an increase in global liquidity and positive investor sentiment. Here are some possible reasons for the rise in BTC price:
- *Increase in Global Liquidity*: An increase in China's M2 money supply can enhance global liquidity, potentially triggering a rise in Bitcoin prices. Some analysts predict that the price of Bitcoin could reach $90,000 due to this increased liquidity.
- *Positive Investor Sentiment*: The Supply in Profit indicator shows that the majority of Bitcoin holders are still in a profit position, which boosts market confidence and the potential for continued buying activity. If this indicator reaches 80%, it could trigger a significant price increase.
- *Bullish Structure*: Although the price of Bitcoin has experienced a correction, the bullish structure remains intact as most long-term holders are still in a profitable position. The current price movement may represent a natural consolidation phase within a longer upward trend.
Currently, the price of Bitcoin is recorded at around $86,771.60 with an increase of 2.56% in the last 24 hours. The market capitalization of Bitcoin reaches $1.76 trillion.¹