Crypto
Bitcoin Surges Past $64k as Geopolitical Tensions Ease and Employment Data Improves
The price of Bitcoin surged to $64,278 on Wednesday, as it recovered from its recent dip. This increase was fueled by several factors, including a decrease in geopolitical tensions and positive employment data in the US.
One key indicator that suggests Bitcoin is gaining momentum is its return above its 200-week moving average. According to Pedro Fontes, an analyst at Mercado Bitcoin, this is a 'positive technical signal', but it's still early days for confirmation.
The entry of new funds into Bitcoin ETFs has also contributed to the price increase. In the US, these products have seen a positive inflow of $211.5 million on Tuesday, and over $381 million in total this week.