Bitcoin’s shooting price above $ 122,000 on Monday, building momentum from a bullish executive order in Washington and three straight days of spot bitcoin exchange-traded fund inflows to close last week.
Henrik Andersson, chief investment officer of Apollo Crypto, said the move ended following a month of integration.
“In our point of view it was just an hour before it was broken. At this time we saw the positive ETF flow, more treasury companies buying Bitcoin and a number of positive developments coming out of the White House.”
Bitcoin (Btc) climb over 3.3% to $ 122,150 in the first hours of Monday morning, move it within a remarkable distance of $ 123,000 all-time high, tradingview Data Shut up.
“Bitcoin is stuck in a low-volatility band between $ 115,000 and $ 120,000 despite all the good news,” he told cointelegraph.
While no clear catalyst appears to be behind Bitcoin’s sudden two-hour climb, President Donald Trump must be Executive order To potentially allow cryptocurrency in 401 (k) retirement plans has been seen as a strengthening for the industry.
Following -next is significant as it can open another $ 9 trillion of funds to flow into Bitcoin and the broader crypto industry.
There are also many buying bitcoin in the end. Michael Saylor on Sunday Hinted In X that the approach will add more Bitcoin to $ 76.8 billion stash, saying: “If you don’t stop buying bitcoin, you won’t stop making money.”
Those who gave bitcoin etf Also has a joint $ 773 million worth of Bitcoin to close the last three days of trading last week, Farside investors Data Shut up.
The sentiment in the bitcoin market is not overcooked
Despite the rally, the Crypto Fear & Greed Index Score is in the “greed” zone still 70 out of 100, indicating that the sentiment in the social market has not been very warmer, so far.
While Bitcoin was still trading below $ 120,000 when the score was updated on Monday, it only marked an increase of one point from yesterday.
Related: Michael Saylor does not sweat the rise of Ethereum treasury companies
Meanwhile, the interest of Google search for Bitcoin only has Get up Modestly last week, marking 48 out of 100 relatives at the highest point in the last 12 months. That point took place between November 10-16, one week after Trump won the US election.
Btc, eth, push the crypto market to new highs
Bitcoin increase above $ 122,000 has also helped here constitutes for lost distance to the ether (Eth) of the latter, which increased by 1.8% in the last 24 hours compared to 3.3% of BTC.
The eth is get up almost three times From $ 1,435 on April 9 to $ 4,315 at the time of writing, tradingview Data Shut up.
BTC and Eth’s Rallies also pushed Data Shut up.
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