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Bitcoin futures data hints at BTC price rally extending beyond $45K
Bitcoin price finally pushed through the $45,000 resistance zone, and futures data suggests that bulls will press BTC higher.
Bitcoin surpassed $45,000 on Feb. 8, reaching the price level for the first time since Jan. 12 after rallying 6% in two days. This movement coincided with the S&P 500 reaching a record high on Feb. 7, indicating that investors sought protection from inflation. In addition to crypto and stocks rallying to new highs, Bitcoin derivatives data show there’s room for further bullish momentum.
Bitcoin rallies as U.S. government debt soars
The United States government debt currently stands at a historical high of $34.2 trillion. Some analysts and economists argue that the absolute number matters less than the interest paid, but U.S. Federal Reserve Chair Jerome Powell admitted to the long-term “unsustainable fiscal path” in a Feb. 4 interview.
Read More: https://cointelegraph.com/news/bitcoin-futures-data-hints-at-btc-price-rally-extending-beyond-45k
Bitcoin price finally pushed through the $45,000 resistance zone, and futures data suggests that bulls will press BTC higher.
Bitcoin surpassed $45,000 on Feb. 8, reaching the price level for the first time since Jan. 12 after rallying 6% in two days. This movement coincided with the S&P 500 reaching a record high on Feb. 7, indicating that investors sought protection from inflation. In addition to crypto and stocks rallying to new highs, Bitcoin derivatives data show there’s room for further bullish momentum.
Bitcoin rallies as U.S. government debt soars
The United States government debt currently stands at a historical high of $34.2 trillion. Some analysts and economists argue that the absolute number matters less than the interest paid, but U.S. Federal Reserve Chair Jerome Powell admitted to the long-term “unsustainable fiscal path” in a Feb. 4 interview.
Read More: https://cointelegraph.com/news/bitcoin-futures-data-hints-at-btc-price-rally-extending-beyond-45k
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