Bitcoin

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 <p>Bitcoin (BTC) has experienced a robust surge of 5% within the last 24 hours. From a 24-hour low of $41,421, Bitcoin soared to an impressive high of $44,408. However, the coin has settled at its current price of $43,683.</p>
 <p>The cryptocurrency market has been buzzing with activity, and the 24-hour trading volume has reached a staggering $37,906,198,630. The rise in activity has secured Bitcoin the second spot, according to CoinMarketCap data.</p>
 <p><strong>Also read: Coinbase Introduces Money Transfers Through TikTok and Instagram</strong></p>
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 <p>Amidst this surge, the renowned GreeksLive <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> has provided valuable insights into the recent positive run. In a recent tweet, they emphasized that the current bull market is distinctly spot-driven.</p>
 <p>GreeksLive mentioned in the tweet that the major derivatives data remains relatively flat. Additionally, they stated that futures premiums are holding steady at around 10% and options implied volatility (IVs) are not exhibiting significant gains.</p>
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    <p lang="en" dir="ltr">The bull market has been a clearly spot-driven bull market, with all major derivatives data relatively flat, futures premiums holding around 10%, and options IVs not showing significant gains.<br>We have to put this rally and the news of the impending passage of the ETF in… pic.twitter.com/tzF8AlUa6d</p>— Greeks.live (@GreeksLive) December 6, 2023
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 <p><strong>Also read:&nbsp;Top 3 Cryptocurrencies Under $1 To Watch This Week</strong></p>
 <h2 class="wp-block-heading" id="h-is-bitcoin-exhibiting-a-healthy-bull-run">Is Bitcoin exhibiting a healthy bull run?</h2>
 <p>According to the GreeksLive <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, the spot-driven nature of this bull market is a positive sign for the overall health of Bitcoin. The downside is considered limited, painting a favorable picture for investors. As discussions intensify regarding the potential passage of the ETF, it is clear that the current spot bull market is robust and seemingly here to stay.</p>
 <p>The stability in major derivatives data, particularly with futures premiums holding at 10%, underscores a consistent demand for Bitcoin in the market. Options IVs not showing substantial gains further suggest that investors are navigating the current landscape with measured optimism.&nbsp;</p>
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 <p><strong>Also read:&nbsp;Top Gaming Tokens React to GTA 6 Trailer Release</strong></p>
 <p>The much-awaited Bitcoin ETF, if approved, could potentially open new avenues for mainstream adoption and investment in the cryptocurrency.&nbsp;In conclusion, Bitcoin’s recent surge, coupled with the stability in major derivatives data, paints a positive outlook for the leading cryptocurrency. However, as with any investment, investors and traders should stay cautious, as the market can turn unpredictable all of a sudden.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/why-is-bitcoin-btc-rising-today-explained-tbt72741.html">https://thebittimes.com/why-is-bitcoin-btc-rising-today-explained-tbt72741.html</a></p>

Why is Bitcoin (BTC) Rising Today? Explained

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TheBitTimes

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