Last week, Bitcoin recorded five consecutive positive price closures, and mining profitability has resumed.
This suggests a strong bullish momentum despite the high levels of uncertainty prevailing in the markets due to President Joe Biden’s withdrawal from the elections. The largest digital token has surged 29% since July 5, bouncing above $68,000 as the selling pressure from German authorities and miners has decreased and ETF inflows have turned positive, helping to lift the price of Bitcoin.
This impressive recovery was highlighted in the weekly Bitfinex Alpha Market Report, which offers a detailed overview of current and future developments in the Bitcoin market. Here are some highlights:
Profitability of mining, ETF inflows, price increase: the week of Bitcoin (BTC)
One of the key factors that has contributed to the recent increase in Bitcoin price is the imminent end of the post-halving selling phase by miners. This phase marks their return to profitability for t
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