When $BTC got going on its price surge earlier on Friday the resulting short squeeze took out all the short positions. These now liquidated, the price has broken back above its bull trend line. Is $44,000 the next stop?
Excitement and optimism has come back into the crypto market. Bitcoin is having a great day, and the altcoins are making hay on the back of this positive move.
Why the pump?
What could be the reasons for this much appreciated change of fortunes for the crypto market? There are probably various. The outflow from the Grayscale Spot Bitcoin ETF seems to be tapering off. The other ETFs are doing some great business, with around $5 billion being invested into them, short selling needed to be liquidated, and another simple reason is that bitcoin had sold off to the tune of more than 20%, and it was about time for the market to see some green candles again.
Source: Coingecko/TradingView
Bull trend back on
Bitcoin is back above its bullish trend line and the much feared vertigi
We współpracy z: https://cryptodaily.co.uk/2024/01/bitcoin-pumps-again-a-sustainable-rally
