Several factors at once point to the possibility of a sharp rise in bitcoin

The flagship crypto asset continues to very confidently strengthen its market position. Recently, the quotes of the coin confidently overcame the round level of $70,000, after which they rushed further upward. At the moment, there are several factors that can contribute to the further development of the upward trend.

To begin with, the community is actively following the upcoming elections in the U.S., which will be held in less than a week. Judging by the data of decentralized betting platforms, the Republican Party candidate Donald Trump is confidently in the lead. Of course, such indicators do not provide any guarantees, but they allow you to remotely assess the mood of market participants. Trump himself is considered a pro-cryptocurrency presidential candidate.

He has repeatedly noted that he will support this segment in every possible way. The official also took the initiative that bitcoin should become an important currency in the strategic financial reserve of the United States. Investors also appreciated his promise that if he became president, he would fire SEC head Gary Gensler.

Clear support for the flagship crypto asset is also provided by the steady inflow of investment funds into spot bitcoin-ETFs, which has been observed throughout the 2nd half of this month. At the end of trading on October 29, sector funds in total attracted more than $870 million. At present, all ETFs have cumulatively concentrated under control assets totaling $23.35 billion.

Finally, an active growth of open interest in bitcoin within the futures market is recorded. At the moment it is estimated at 600 thousand BTC, which at the current exchange rate is about $41 billion. Bullrun in conjunction with the growth of open interest indicates that the market is actively receiving new investment funds.

著者 Camila Russo is an experienced journalist with a strong focus on crypto news.

1

バイビット

5020 $
新規ユーザーへの特典！

9.8

訪問 レビューを読む

ByBitは暗号通貨取引に便利で安全な条件を提供し、低い手数料、高い流動性、市場分析のための最新ツールを提供します。スポット取引とレバレッジ取引をサポートし、直感的なインターフェースとチュートリアルで初心者からプロのトレーダーまでサポートします。

2

バイナンス

100 $ボーナスを獲得

新規ユーザー向け

9.5

訪問 レビューを読む

暗号通貨の世界で迅速かつ安全にあなたの旅を開始することができます最大の暗号取引所。このプラットフォームは、何百もの人気資産、低い手数料、取引と投資のための高度なツールを提供しています。簡単な登録、高速取引、信頼性の高い資金保護により、Binanceはあらゆるレベルのトレーダーにとって素晴らしい選択肢となっています！