Cryptocurrencies are extending an upward streak driven by the by the Fed's dovish stance on monetary policy in the US. Bitcoin added more than 2.7% today and rocketed to the highest levels seen since early August this year. Thus, the major cryptocurrency breaks through the psychologically important barrier at the level of $65,000.
Moreover, with the observed increases, more and more capital is flowing into the market through ETF funds. Yesterday alone, more than $100 million net flowed into the BTC market.
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Source: XTB
The major cryptocurrency pierces the $65,000 zone, thus opening the way from a technical perspective to test the upper limit of the overall downtrend initiated in March this year. For the demand side, the key now may be the maintenance of the previously mentioned zone, which, together with the $62,250 zone (realized purchase price of short-term investors). Source: xStation
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