Bitcoin is gaining 3.5% today due to a combination of bullish technical indicators, strong institutional inflows via ETFs, and positive market sentiment ahead of anticipated Federal Reserve rate cuts. Analysts highlight that July is historically a strong month for Bitcoin, with average gains over 9%, and current technicals—such as a breakout from a consolidation pattern—are supporting the upward move. Increased adoption by institutions and expectations of further accumulation are also contributing to the rally. Additionally, the market is reacting positively to easing geopolitical tensions and the prospect of more favorable monetary policy, further fueling investor optimism.
The last data indicates increased accumulation by private companies in recent months. See the chart below.
Source: XTB Research
Bitcoin breaks out of the consolidation zone and resumes the upward trend shown by exponential moving averages. Source: xStation
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