$BTC has surpassed $90,000 🤔
✅Strong demand from US ETFs: Exchange-traded funds (ETFs) have created a large amount of demand for Bitcoin.
✅Expectations of the Federal Reserve (Fed) to cut interest rates: Many investors expect that the Fed will soon start a rate cut cycle.
🇺🇸Donald Trump's victory in the US presidential election: This victory has created a wave of optimism among the investor community.
✅Supply scarcity: After the recent halving, the number of new Bitcoins appearing on the market has decreased significantly.
✅Positive market sentiment: The Crypto Fear & Greed Index is currently at 52, indicating that market sentiment is neutral.
💻Big Data Analysis:
On-chain analysis: Data from the Bitcoin blockchain shows an increase in the number of transactions and active wallet addresses, reflecting the growth in economic activity on the Bitcoin network.
Google Cloud’s BigQuery: Enables detailed analysis of transactions and activity on the Bitcoin blockchain, providing insights into underlying economic factors and market trends.
📈These factors have combined to create a strong bull run for Bitcoin, pushing the price above $90,000.
