đ¤Šđ¨ Bitcoin News Alert đ¨đ¤Š
Bitcoin has surged further, reaching $89,068.36, indicating ongoing bullish momentum.
This increase aligns with recent trends of strong institutional investment through ETFs and heightened buying pressure ahead of the April 2024 halving event, both of which are driving significant market optimism.
Given these factors, Bitcoinâs price has broken key resistance levels, with many expecting it to test even higher thresholds if demand remains high and no major corrections occur.
This rally is partly fueled by short squeezes, where traders betting against Bitcoin's rise are forced to cover losses as prices increase, adding more upward pressure.
Additionally, low funding rates in futures markets and strong buy-in from retail investors are contributing to the bullish outlook.
The current market suggests that Bitcoin might still have room to grow, but it also calls for cautious optimism due to potential volatility from high open interest and leveraged positions.
