Bitcoin

Momentum

Coin

<ul class="news-points">
 <li>Bitcoin breaks $71,000 amid a $950M influx into spot ETFs, signaling strong market liquidity.</li>
 <li>BTC’s 24-hour trading volume spikes 135% as market cap soars to over $1.4 trillion.</li>
 <li>Exchange BTC reserves hit a 7-year low, reducing available supply as bullish sentiment grows.</li>
</ul>
Bitcoin (BTC) has seen a remarkable recovery, breaking the $71,000 barrier for the first time in over a month. This upward movement is largely attributed to a surge in spot buying and interest in spot Bitcoin ETFs. As investors pour money into these newly approved funds, the market exhibits a strong bullish trend that could indicate the start of a more sustained bull market.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdHDeN5vSOHV9FMqFvVwzxh_9iH91g-dbT82Vauj_CPohE-WQrdKyUNx0P5s-11EC3FBXMuM5aFsPAEWjCwgOuUF_I1EgfUguPiwA4s1ZXsfP6YNp4JBu9jdK1IdnUrlPkWeIaMutRTPuyD0gdJk9LtRspj?key=08kiNmNQqouqubFEi6G8fQ" alt="">
</figure>
BTC/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
However, despite the bullish rally, resistance at the intra-day high of $71,946 was stiff to breach. Despite that, at press time, BTC was bullish, trading at $71,061, a 5.89% surge from the intra-day low of $66,319. Concurrently, the positive sentiment was evidenced in the market cap and trading volume that soared by 5.86% and 135%, respectively, to $1,400,852,056,633 and $51,363,824,061.
<h2 class="wp-block-heading" id="h-factors-driving-bitcoin-s-price-increase">Factors Driving Bitcoin’s Price Increase</h2>
Several key factors have co…
The post <a href="https://coinedition.com/bitcoin-btc-breaks-71000-as-bullish-momentum-builds-is-an-all-time-high-looming/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Breaks $71,000 as Bullish Momentum Builds: Is an All-Time High Looming?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin (BTC) Breaks $71,000 as Bullish Momentum Builds: Is an All-Time High Looming?

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