Bitcoin has surged to $63,000 in early trading on Monday, showing signs of breaking the recent downtrend. Analysts attribute this upward movement to institutional investors, particularly U.S. whales, who have increased their Bitcoin purchases. The Coinbase premium gap, which measures the difference between the Coinbase Pro and Binance prices, indicates strong buying pressure from American investors.
Although the recent rise in Bitcoin price is seen as a rebound that offsets previous declines, analysts are optimistic about the future. With more than a billion dollars flowing into spot Bitcoin ETFs in the U.S. last week, there is a possibility of further upward momentum. Despite subdued retail trading, there is a sense of market recovery after a prolonged period of pullback.
Market analysts have pointed out key indicators that suggest a shift in market sentiment. The asset’s successful breach of $61,500 and its move towards reclaiming the post-halving reaccumulation range indicate a positive trend. Global uncertainty, such as the recent assassination attempt on Trump, is also seen as a favorable climate for Bitcoin to continue its upward trajectory.
As Bitcoin reaches $63,000 and surpasses the $65,000 price zone on July 15, the next level of resistance is expected to be tested. The asset has gained 4.7% in the past 24 hours, with total market capitalization increasing by over $100 billion in weekend trading. These movements are largely influenced by recent geopolitical events, such as the attempted assassination of Donald Trump.
While Bitcoin has shown signs of recovery and upward momentum, it is important to monitor market trends closely. Institutional investors, technical analysis, and market sentiment all play a crucial role in determining the future price movements of Bitcoin. As the cryptocurrency market continues to evolve, staying informed and adapting to changing conditions will be key for traders and investors alike.
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