Crypto currency markets have been moved again. Bitcoin (BTC) has left behind the $ 85,000 level that has not been overcome for a long time. So what developments are behind this rise? Many elements, from corporate moves to interest rates, determine the direction of BTC. As Kriptokoin.com, we examine the 3 main reasons that investors should follow carefully…
Michael Saylor returned to the stage: New Bitcoin Recruitment signal has come
The biggest trigger behind the increase in the price of Bitcoin was undoubtedly the remarkable sharing of Michael Saylor. Saylor, CEO of the strategy company, shared the portfolio data from his social media account and said, “Needs More Orange”. This promise was interpreted as “new BTC purchase on the road” among investors.
The strategy is currently holding 499,226 BTCs in the balance sheet. With a new purchase, this number can exceed the limit of 500,000. Moreover, the company’s collection of new capital with the sale of 500 million dollars of shares last week strengthens these plans. The fact that the corporate investor makes such a big move is naturally instilled in the market.
Institutions are back: ETF entrances are increasing, coinbase surprise
Recently, there has been a money out of Bitcoin ETFs. But this week the pointer returned up again. A total of $ 785 million entry to Spot Bitcoin ETFs. This data shows that especially US -based corporate investors are turning back to the market.
In addition, it is said that Coinbase is conducting negotiations to buy Deribit for $ 5 billion. If this agreement is formalized, it may be an important turning point for the derivative markets. Corporate mobility has reached a remarkable dimension both on the stock market side and in the chain data.
Macro Signals Positive: Interests have not changed, is there any discount?
The Fed meeting held last week did not change interest rates. This decision had a relief effect on the markets. After this news, Bitcoin gained 3.5 %and settled over $ 85,000. Investors think that a possible interest rate cut in April can move the prices further up.
In addition, rumors that the International Monetary Fund (IMF) was preparing to describe Bitcoin as “digital gold kazan excited investors. If this definition becomes official, BTC can now be accepted not only as an investment tool, but also as a global value storage method.
What does the technical view say for Bitcoin? Is $ 114,000 on the target?
There are also positive signals on the technical analysis side. Bitcoin has found strong support twice in the last two weeks of $ 78,000 and $ 76,000. This technically created a “double dip” formation. Analysts say this formation points to a target of $ 114,000 in the case of upward breaks.
While the daily transaction volume approaches $ 12 billion, the interest of investor is increasing. As short -term resistance levels are broken, the price seems to be able to move to higher levels. In conclusion; Bitcoin’s permanence over $ 85,000 is supported by both technical and basic data. When the Potential Purchase of the Strategy, the increase in ETF interest and the expectations of interest reduction, new records for BTC are not likely.
