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Bitcoin Leads the Crypto Market with Price Rebound

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by Giorgi Kostiuk

2 days ago

On Wednesday, September 3rd, Bitcoin price registered a rebound that positively affected the altcoin market. Bitcoin reached a range of $112,517.

Bitcoin Price Surge

Bitcoin price increased on Wednesday, following the rise in gold prices and the broader stock market rebound. Bitcoin continued to strengthen after a three-day rally.

Technical Factors

The rebound of Bitcoin above $112k was partially driven by technical factors. On the daily and weekly charts, Bitcoin bounced from a support level around $108k.

Institutional Demand and Regulatory Clarity

The bullish sentiment for Bitcoin in the past three days was also fueled by rising demand from institutional investors. According to BitcoinTreasuries, 21 new entities added Bitcoin to their treasury, increasing the total to 314.

The rise in Bitcoin price is linked to positive factors, including technical data and institutional interest, reinforcing confidence in the future of the cryptocurrency market.

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