Bitcoin Price Surges Past $63,000: The Key Reasons
2024年7月15日 - 5:45PM
NEWSBTC
After a decline to $53,600 last Friday, the Bitcoin price
experienced a major recovery over the weekend, exceeding the
$63,000 threshold today. This marks a massive 17% increase since
last Friday, reaching this level for the first time in two weeks.
The rally can be attributed to several factors that collectively
propelled the premier’s cryptocurrency’s price upward. #1 The
“Trump Bitcoin Pump” The resurgence in the Bitcoin price coincided
with the attempted assassination of former President and 2024
presidential hopeful Donald Trump. The incident significantly
impacted his odds in the upcoming election, with betting market
Polymarket now forecasting a 70% probability of his victory. Crypto
expert Will Clemente III highlighted on X, “Trump’s odds of winning
in November are skyrocketing in prediction markets.” He further
noted, “Based on Bitcoin’s reaction so far, looks like markets are
going to begin pricing in a full Trump victory.” Related Reading:
Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By
The German Government? Alex Krüger, a macro analyst, elaborated on
the implications of a potential Trump presidency for the financial
markets: “The Trump Trade is now on its way. This what Trump
winning, or the expectation of him winning, entails: Bullish for
Crypto because Trump’s administration might pursue supportive
regulations for cryptocurrencies, fostering innovation and
adoption.” #2 German Selling Exhausted The recent completion of a
large-scale Bitcoin sell-off by the German government also
contributed to the price recovery. Germany exhausted its cache of
50,000 BTC seized from Movie2k, completing its final transaction of
3846.05 BTC last Friday. James “Checkmate” Check, a leading
on-chain analyst, remarked on the incredible strength of the BTC
price on X, “Folks, Bitcoin just absorbed a 50k BTC market sell
order in a few weeks. It dipped ~25%, in a very structured and
orderly correction. Last time something like this happened was LUNA
selling ~80k $BTC and price dropped from $46k to $25k, and soon
after to $17k. Not the same.” #3 DXY Is Showing Weakness The
weakening US dollar is probably another driver of BTC’s recent
gains. The US Dollar Index (DXY), which measures the dollar against
a basket of major currencies, fell 1.8% over the last two weeks to
a five-week low of 104. Related Reading: Bitcoin Whales Accumulate
71,000 BTC Amidst Price Dip – Details The expectation of an
interest rate cut and the growing US government deficit, which
reached $1.27 trillion year-to-date in June, have contributed to
the dollar’s decline, pushing investors towards riskier assets like
Bitcoin and cryptocurrencies. #4 Bitcoin Miner Capitulation Ends
Joe Burnett, another noted crypto analyst, highlighted via X
yesterday that a month-long period of Bitcoin miner capitulation is
nearing its end, indicating a potential reversal in downward
pressure on Bitcoin’s price. Historically, the end of miner
capitulation has been associated with subsequent price increases.
#5 Technical Breakout From a technical perspective, Bitcoin
surpassed the critical 200-day Exponential Moving Average (EMA) and
a descending trendline this Saturday. This milestone can be
considered a bullish signal among traders, indicating a possible
end to the downturn that began in early June. At press time, BTC
traded at $63,105. Featured image created with DALL·E, chart from
TradingView.com
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 10 2023 まで 10 2024