Why is Bitcoin Price Up Today?

Share This Post

Bitcoin Price Reaches New High

The post Why is Bitcoin Price Up Today? appeared first on Coinpedia Fintech News

After breaking the $80,000 barrier on Monday, Bitcoin soared to nearly $90,000 by Tuesday, marking a historic achievement. In fact, Bitcoin’s market capitalization has now surpassed that of all above-ground silver. If Bitcoin can push higher, the next target zone is between $92,000 and $95,000.

The exact target will depend on how the price behaves in the coming days. Institutional interest in Bitcoin has also been on the rise. This growing interest from institutional investors is expected to further support Bitcoin’s price in the coming months

Analyst Rekt Capital has pointed out some initial rejection of Bitcoin around the $90,000 level. It seems that there are still some traders who believe selling Bitcoin at this price is a smart move. However, Rekt Capital suggests that these sellers may soon reconsider their stance, implying that the current dip could be temporary and that the broader bullish trend for Bitcoin is likely to continue.

But Why is Bitcoin Soaring?

Bitcoin’s recent price increase is being closely tied to market expectations surrounding the Trump administration’s potential pro-crypto stance. Many key members of Trump’s team have openly supported cryptocurrency, and this support could lead to clearer regulations and more favorable policies for the industry..

The market is hopeful that Trump’s policies on tax cuts, healthcare spending, and labor markets will strengthen the overall economy. This general sense of optimism about the administration’s economic approach is driving positive market sentiment.

Another factor is a growing belief that the Trump administration will implement clearer and more favorable regulations for the cryptocurrency industry. Currently, the U.S. crypto landscape is fragmented, with different states having their own rules. 

Investors are hoping for federal-level clarity on whether agencies like the SEC or CFTC will take the lead in regulating the industry. Clearer regulations could lead to greater acceptance of crypto by large banks, which would, in turn, boost the price of Bitcoin.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Ripple CEO Predicts US Crypto Boom, 76% of KOLs Shilled Worthless Meme Coins, and More — Week in Review

Ripple CEO predicts US crypto boom, study shows 76% of KOLs promoted worthless meme coins, Coinbase CEO strongly endorses DOGE, and more in this Week in Review Week in Review Ripple CEO Brad

Bitcoin Taker Buy/Sell Ratio Surges On Major Exchanges — Who Is Buying?

The price of Bitcoin has somewhat cooled off, struggling to reach the highly-coveted $100,000 mark, after an intense bullish run all week long However, investors appear to be undeterred by the

Bitcoin Price Is Decoupling From Gold Again — What’s Happening?

Bitcoin has often been referred to as the “digital gold,” as it has proven to be a unique asset class and, more importantly, a reliable store of value over the years While gold surely outpaces

AI, Blockchain Integration Can Boost Trust, Prevent Misuse, Expert Says

Integrating AI with blockchain can enhance AI’s trustworthiness and revolutionize various sectors AI Developers Should Prioritize User Control Stacey Engle, co-founder and CEO of Twin Protocol,

Dogecoin ATH Incoming? Analyst Issues 2-Day Price Forecast

Crypto analyst Master Kenobi has made a bold two-day prediction for the Dogecoin price, stating that it will hit a new all-time high (ATH) in the next two days The analyst highlighted Dogecoin’s

Optimism Grows for Solana ETF Approval Amidst Changing Market Dynamics

The post Optimism Grows for Solana ETF Approval Amidst Changing Market Dynamics appeared first on Coinpedia Fintech News As the regulatory and market dynamics change in favor of digital asset