Bitcoin has once again shown positive movement, increasing by over 5% in recent days. What drives this rise and how is it connected to ETFs and strategic reserves?
Bitcoin Market Liquidation Dynamics
This week, Bitcoin continued its active upward trend, leading to significant market liquidations. In the last 24 hours, short position liquidations amounted to $52.68 million, significantly exceeding long position liquidations of $30.99 million. The level of liquidations shows that the market perceives Bitcoin as overbought, yet the bulls continue to strengthen.
ETFs as a Growth Driver
One of the key factors driving Bitcoin's growth has been ETFs. Fund inflows on Tuesday amounted to nearly $1 billion, serving as a positive signal for potential further price increases.
Trend of Bitcoin Strategic Reserves
The topic of Bitcoin strategic reserves continues to gain popularity and could become a new growth catalyst. Speculation about significant Bitcoin purchases for reserves may push demand significantly higher.
Bitcoin's positive dynamics continue, thanks to ETF inflows and discussions about future strategic reserves. This creates interesting opportunities for further market shifts.
