Bitcoin climbed to $ 123,944 on Friday, the highest level since mid -August, while accelerating bullish momentum throughout the crypto market. The BTC trades at $ 122,738 at the time of the press, up to 1.56% in the past 24 hours and extends a 12.36% weekly benefit, according to CoinMarketCap data. BTC’s latest rally comes from the middle of the ETF flow, mounting bets at federal reserve rates, and favorable technical signals, putting bitcoin within a remarkable distance of all time high $ 124,457.
Sygnum Bank Chief Investment Officer, Fabian DoriThe breakout argues reflects more on short -term catalysts. He points to a cluster of supporting macro conditions, improving the market structure, and the Firmer’s investor’s investor sentiment.
According to Fabian, these dynamics resemble previous cycles that in conjunction with the major bitcoin price milestones, suggesting the latest climb may put a basis for another high time.
Those conditions are now seen in market data. US SPOT BITCOIN ETF is absorbed $ 2.2 billion With net inflows for the past four days, with only blackrock worth $ 466 million.
Poor PMI data services have raised Fed easing expectations, strengthening Bitcoin’s appeal as a macro hedge. At the same time, BTC’s dominance of 58.1% reflects institutional beliefs, while RSI and MacD signals feature technical strength as Bitcoin’s edges towards $ 124,457 ATH.
“The US government’s shutdown has renewed the discussion around the Bitcoin store, as political disfunction gives interest to decentralized property. At the same time, the broader environment-characterized by loose liquidity conditions, a speeding-up-the-business cycle service, and narrow underperformance related to equality and gold-has drawn attention to digital properties, “Fabian mentioned in a review shared with Alexablockchain.
According to Fabian, market data indicates current price action can be attributed to an accumulation stage. The sale of pressure from long-term holders appears easing, while short-term investors show signs of stabilization after a period of realized losses.
“History, history, The periods marked by the cooling of the speculation and steadier’s positioning and positioning are sometimes preceded by significant moves in Bitcoin, even though the outcomes remain greatly changing, “Fabian added.
Fabian noted that a Long -moving above $ 120,000 is likely to attract attention as a marker of emotion, It is possible to shape momentum in greater digital asset markets.
“Structural drivers-like continuous institutional contact and ETF-associated flows-stay-staying. At the same time, historical patterns also indicate the current cycle to end at the end of the year, representing a risk factor that may aggravate the perspective,” Fabian said.
Also Read: Kava AI launches the BNB chain, bringing Defi tools to 4m -day -day users
Denial: The information provided to Alexablockchain is for information purposes only and does not generate financial advice. Read the complete decline here.