Bitcoin operates at more than $107,000 and remains at record levels

Bitcoin operates at more than 7,000 and remains at record levels

December 17, 2024 – 08:41

The crypto market is going through a clear bullish streak driven by growing institutional interest, favorable political factors and a limited supply of Bitcoin. This consolidates an optimistic scenario for investors for 2025.

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The crypto market continues with strong momentum, with Bitcoin (BTC) climbing up to US$107,000 and approaching US$108,000 again, while Ethereum (ETH) solidly exceeds $4,000. This advance comes in a context where institutional interest and strategic positioning play a key role in the growth of the digital market.

The altcoin sector also registers positive movements, although with mixed results. XRP leads the rises driven by the imminent launch of Ripple’s RLUSD stablecoin, while other tokens such as Solana (SOL), Cardano (ADA) and Dogecoin (DOGE) maintain moderate gains. In contrast, Chainlink (LINK) suffers a correction of close to 5%.

Analysts point out that recent market movements find support in political statements favorable to Bitcoin. Donald Trump’s proposal to establish a strategic BTC reserve in the United States has been interpreted as a clear message in favor of the adoption of digital assets in the face of the risks of inflation and dollar devaluation.

The role of MicroStrategy

Additionally, MicroStrategy’s listing on the Nasdaq 100 added significant momentum to Bitcoin. This milestone reinforces the presence of cryptocurrency in traditional markets and underlines its growing weight in the global technological ecosystem. Experts point out that this integration indirectly facilitates the exposure of institutional funds to BTC through positions in MicroStrategy, which consolidates its role within diversified portfolios.

From a technical perspective, there is renewed interest in Bitcoin, accompanied by a reduction in the availability of the asset on exchange platforms. Significant BTC outflows from exchangesyes and a depletion of inventory on OTC desks suggest a scenario where limited supply could generate upward pressure on prices. At the same time, capital flows continue to concentrate on Bitcoin, while altcoins seem to stabilize in a consolidation stage.

The market maintains an optimistic tone, supported by a constant increase in flows and an environment where investor enthusiasm remains at high levels.

Source: Ambito

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