The final boss is still ahead
2024-11-12

Hi guys, #Bitcoin set a new high of $84,000, adding $16,000 in a week. Several factors supported the sharp increase.


Reasons for the rally


The short squeeze became a key incentive: $674 million was withdrawn from the market during the day, which pushed traders with high leverage to open long positions on bitcoin and altcoins. This has supported growth, and many market players are actively investing in order not to miss out on profits.


Institutional investments


Over the past five weeks, institutional demand has increased: bitcoin exchange traded funds have raised 7$7.2 billion, ether funds - $154 million in a week. Investors transfer funds from gold and stock indexes to crypto assets.


Political background


Trump's victory added confidence to the market: a law is expected to be passed on the purchase of 1 million BTC CRYPTOCAP:BTC  to reduce the US national debt.


The final boss is still ahead