Bitcoin has just crossed $ 109,000. An ascent carried by a wave of new positive macroeconomics. The appetite of institutionalists thus resurfaces, but does the question remain: does this movement mark the beginning of a real bull market? Complete analysis!
In short
- Bitcoin exceeds $ 109,000 thanks to an increase in global liquidity and institutional flows.
- However, a clear catalyst remains necessary for a new summit.
Bitcoin climbs thanks to global liquidity and the support of institutions
According to data, the BTC displays an increase of +2.5 % in 24 hours. Its course even reached $ 109,600. An unprecedented level since mid-June!
Crypto experts agree on one point: this thrust is largely fueled by an increase in global liquidity, illustrated by the increase in money mass (M2) and the appeasement of trade tensions. They notably alluded to the agreement signed between the United States and Vietnam. This seems to rekindle optimism on the markets. It provides for the reduction of customs duties from 46 % to 20 %.
Some Crypto analysts underline the growing role of institutional in this cycleeven if the participation of the retail remains low. The lowest level of exchange volume recorded over the CEX for nine months is proof of this.
Bitcoin: a lack of catalyst to break the historic record
Despite this revival, analysts call for caution. Bitcoin remains suspended from a thread: that of interest rates. A clear orientation of the Fed, combined with new flows in the ETF, could thus serve as a trigger for aim for a new summit.
Decryption: Without sustained catalyst, Bitcoin could remain trapped in its previous records.
In the background, the growing interest of large companies to have Bitcoin as reserve assets nourishes the idea of a structural role of crypto in finance.
On the other hand, altcoins are struggling to follow. Their performance remains correlated with the decrease in on-chain activity and regulatory wait-and-see. L'future of the ecosystem There will therefore be strongly dependent on the next announcements on regulation and trading strategies implemented by major players.
Admittedly, Bitcoin has taken an important psychological step. However, the real test remains to come. If the macro and institutional signals converge, the market may well experience a historic summer. To follow closely …
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