Bitcoin Breaks $63K As Institutional US Investors Start Stocking Up Digital Asset: Analysts Say Possibility Of A Further Rebound Is Open
Portfolio Pulse from Aniket Verma
Bitcoin surged past $63,000 as U.S. institutional investors resumed buying after weeks of sell-offs. The rally is expected to continue, driven by factors such as the German government's sale of seized Bitcoins and increased market optimism following Donald Trump's survival of an assassination attempt.
July 15, 2024 | 9:20 am
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Bitcoin surged past $63,000 as U.S. institutional investors resumed buying after weeks of sell-offs. The rally is expected to continue, driven by factors such as the German government's sale of seized Bitcoins and increased market optimism following Donald Trump's survival of an assassination attempt.
The increase in institutional buying, as indicated by the Coinbase Premium Gap, suggests strong demand from large investors. Additionally, the removal of the German government's Bitcoin overhang and positive market sentiment following Trump's survival contribute to a bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100