After hitting highs, Bitcoin moved away from that value. However, analysts see four key long-term catalysts.
He cryptocurrency market It reached an impressive value of US$3.1 trillion, almost the size of the Gross Domestic Product (GDP) of France. This Tuesday, Bitcoin led the growth by increasing almost 25% in a week, but it fell by a few thousand dollars, so the “marketcap” fell to $2.92 trillion, but was within reach of surpassing the country’s economy Gallic.
According to Macro Data, this year, France’s GDP is estimated to be US$3.1 trillion, so if BTC exceeds US$90,000 it would be above the second largest economy in Europe.
In the third quarter of 2024, France’s GDP was 737,122 million euros. This increase of 0.4% in that period was driven by the Olympic and Paralympic Games. The official statistics institute Insee noted that domestic demand recovered somewhat due to increased household consumption.
With this valuation, andThe crypto sector is positioned as the eighth largest economy in the worldjust behind economic powers such as the United States, China and Germany. Despite the uncertainty, current market trends point to continued growth, making competition within the crypto space more intense.
Key Indicators Suggest BTC Trend Towards $90K
In the last week, BTC hit several all-time highs, including a recent one at $89,600. However, a healthy correction was expected. The bullish thesis for BTC is reinforced by the liquidation of $225 million in short positions in the last 24 hours, according to Coinglass. This combination of indicators and BTC’s performance could take the price to $90,000 soon.
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Once this barrier is overcome, BTC could begin a new phase of increases, with the possibility of reaching six-digit figures. It is worth mentioning that as the BTC price reaches record levels, Bitcoin ETFs are expected to follow a similar trend, recording unprecedented inflows and trading volumes.
Source: Ambito
