Bitcoin hit new all-time highs on Monday, rising above $123,000 USD. The rally is being driven by several factors. First, a favorable macroeconomic environment is supporting sentiment in traditional financial markets. Second, strong institutional demand remains persistent. And third, the legislative process in the U.S. is finally gaining momentum. This week, lawmakers plan to debate and vote on three key bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act.
Global liquidity continues to support risk asset valuations. Source: xStation 5
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ETF demand is at record highs, and an additional boost came yesterday when MicroStrategy purchased $472.5 million worth of Bitcoin. Source: xStation 5
Bitcoin (D1 interval)
Bitcoin has set a new all-time high above $123,000 USD. Today, we are observing profit-taking and a gap close on the CME exchange, which was formed over the weekend.
Source: xStation 5
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