Bitcoin is experiencing a powerful rally, recently reaching $77,000 following a 10% surge in the hours around former President Trump’s election victory and another bump after the Federal Open Market Committee (FOMC) announced a rate cut.
This one-two punch of political and economic news has bolstered optimism for six-figure price targets in Bitcoin’s near future. Equity markets have also rallied, as investors across sectors react positively to developments that could impact portfolios long-term.
In the past 30 days, Bitcoin’s Realized Cap—a measure of its adjusted market cap—has climbed by 3.8% to an all-time high of $656 billion, supported by net capital inflows of $2.5 billion. This marks one of the most substantial inflows since early 2023, reflecting heightened interest and investment in crypto’s top asset.
Further illustrating this trend, 24,000 BTC (worth $1.8 billion) have been withdrawn from exchanges over the last 72 hours, a sign of strong investor confidence and long-term holding.
Technical indicators are also signaling strength. If Bitcoin holds support above $71,489, MVRV Deviation Pricing Bands suggest a potential peak around $85,360.
El Salvador’s commitment to Bitcoin is also paying off. President Nayib Bukele’s November 2022 initiative to purchase one BTC per day has yielded impressive returns; with 722 BTC accumulated at an average price below $42,000, the country is up $24.54 million (81%) on this strategy.
Meanwhile, institutional interest continues to grow, as U.S. Bitcoin ETFs saw a record inflow of $1.372 billion, led by BlackRock’s ETF, which added $1.169 billion.
Over the last three weeks, BlackRock alone has acquired 77,649 BTC, bringing its holdings to nearly 2.26% of Bitcoin’s circulating supply. The accumulation trend suggests a continued bullish outlook as institutional giants deepen their positions in Bitcoin.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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