Bitcoin at highest levels since early August 📈
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.Â
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.Â
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. Â 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: xStationÂ