Institutional buying, improving macro conditions and a friendlier regulatory outlook are supporting Bitcoin's rally, while billions in short liquidations have accelerated the move.
- Bitcoin surged above $79,000 Friday as ETF inflows, macro conditions and developments in Washington boosted demand.
- U.S. spot Bitcoin ETFs attracted more than $1 billion over two days as institutional demand picked up.
- Billions of dollars in short positions were liquidated as Bitcoin rallied, accelerating the move higher.
The rally has pushed Bitcoin sharply higher this week, but analysts say the move began taking shape before the latest breakout............
Wall Street and Washington Fuel Bitcoin Rally: Here's What's Going On - Decrypt
Institutional buying, improving macro conditions, and a friendlier regulatory outlook are supporting Bitcoin's rally. Here's why.
decrypt.co