Is BTC in ‘up only’ mode after rising above $94K?
Bitcoin's recent price surge to over $94,000 has sparked curiosity about its potential to continue rising. Currently trading at approximately $93,700, Bitcoin is up by 12% within the week. Despite recent headwinds such as mixed tariff policies, Fed expectations, and recession fears impacting broader markets, YouHodler markets chief Ruslan Lienkha argues that Bitcoin doesn’t necessarily require a strong equity market to rise. Stability in the macroeconomic environment could provide the support needed for renewed upward momentum. Coincidentally, Bitcoin has started to diverge from its typical behavior in relation to US tech stocks, with increased interest in its value stemming from concerns over traditional financial assets. As major economies strategize to counter declining globalization by printing money, the outlook for Bitcoin remains positive. BitMEX co-founder Arthur Hayes believes Bitcoin may have reached its low point at $74,500, anticipating a shift where Bitcoin aligns more closely with gold's value in turbulent times. Thus, there’s growing optimism regarding Bitcoin's trajectory amidst external economic influences.
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