2024-07-16 04:55:00 ET
Summary
- Increased investor confidence fueled by a $1.04 billion inflow into Bitcoin Spot ETFs.
- Bitcoin miners, particularly in the US, are accumulating Bitcoin in anticipation of another potential rally, with Marathon Digital Holdings aiming to significantly increase its hashrate.
- Technically, Bitcoin’s breakout above a long-term descending trendline suggests further upside potential.
By Zain Vawda
Bitcoin ( BTC-USD ) prices enjoyed somewhat of a renaissance over the weekend bursting back above the 60k mark and taking out some key technical hurdles in the process....
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For further details see:
Bitcoin Soars Amidst Surging ETF Inflows (Technical Analysis)