What Pushed Bitcoin Past $66K? 4 Key Reasons

 Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/cryptosignalalert

Download our free app and receive signals on your mobile – https://play.google.com/store/apps/details?id=com.freecryptosignals.app

The reported progress on the CLARITY Act is perhaps the most surprising.

July has been historically a positive month for bitcoin and this edition hasn’t disappointed so far. The cryptocurrency began the month on the wrong foot, dipping below $58,000 for the first time in nearly two years, but it rebounded swiftly in the following weeks.

Earlier today, it rocketed past $66,000 for the first time in over a month, gaining over $8,000 since that July 1 low. Here are some of the possible reasons behind it.

Whale and ETF Accumulation
As June was coming to an end and it became known that it would be a highly painful month for the asset with a nosedive of over 20%, we outlined several factors that had to change in July for a price resurgence. One of them was the ETF inflows. The financial vehicles went on a violent eight-week withdrawal-only streak, which was finally snapped a couple of weeks ago.

Moreover, investors continued to pour funds into the ETFs, which ended two weeks in the green in a row for the first time in months. July 20 extended the streak as the funds attracted almost $227 million.

The second major reason for the price revival is whale behavior. Data shared by CryptoQuant indicated that large market participants holding between 1,000 and 10,000 BTC increased their 60-day net accumulation to roughly 66,700 units, which is close to the recent record seen a month ago.

Cornix trading Bots are performing very well and our Binance Futures members are making money.

These truly makes us one of the Best Binance Futures BOT in Trading Market.

Make profit on Binance Futures by using our Signals and Cornix trading Bots.

Join our FREE Binance Futures Group and enjoy Profit.

Comments

Post a Comment

Popular posts from this blog

Charles Schwab Expands Crypto Access With BTC and ETH Trading

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/progrouptraders Charles Schwab's latest offering is currently unavailable to residents of New York, Louisiana, and users outside the United States. Charles Schwab has started rolling out its new Schwab Crypto accounts to retail clients, allowing users to trade Bitcoin and Ethereum directly through the platform alongside traditional investments, starting Tuesday. The offering is currently available to most residents in the United States, although residents of New York, Louisiana, and US territories are excluded at this stage. Schwab Crypto accounts are also not yet available to international users. Schwab Crypto Rollout According to the announcement, the first group of eligible clients can begin accessing crypto trading. To open a Schwab Crypto account, users must already have an eligible brokerage acco...
Read more

Open Interest Increase Spurs Bitcoin Price Target of $71.5K

Image
Maximize Profits with Binance Futures Trading: Free Bitcoin Trading Signals Binance Futures Trading Bot for Best Automated Trades Join Us: Binance Future Signal Telegram - https://telegram.me/binancefuturesignal Bitcoin may be gearing up to move above $70,000 now it has reclaimed a critical level that traders have been closely watching for the past two months. Bitcoin could be headed toward the $71,500 mark after breaching the $65,000 price point on Tuesday, based on historical patterns as observed by crypto traders.  The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements. Massive profits made from this call Binance Futures platform shares the same infrastructure as their spot trading exchange, Binance. Integrating our Cornix trading Bots with your Binance Futures account is quick and easy. It takes only a few minutes to configure, and you never need to grant withdrawal permissions. Use the Binance Futures Cornix Trading Bo...
Read more

Crypto Market Cap Gains $90 Billion !

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://t.me/progrouptraders The crypto market cap is up by roughly $90 billion in a day as bitcoin tapped another three-month high of just under $47,000. Some great profits for the Special Members Daily Futures Signals as per the Market with high a accuracy of 90%+ on an average. If you are too busy for Manual Trading on Binance Futures Market then you can go for the highly powerful Binance Futures Cornix Bot which copies Signals for you as per take profit and stop loss all automatically. Please click on the above link for more details.
Read more