Reserve

Bitcoin

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 <li><strong>Bitcoin’s strategic withdrawals and growing institutional interest signal potential for surpassing gold’s record.</strong></li> 
 <li><strong>Political factors and Fed expectations are key drivers behind Bitcoin’s current price momentum.</strong></li> 
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     <p>According to Coinglass data, strategic withdrawals from major platforms like Coinbase Pro and Bitfinex have led to the accumulation of over 23,000 BTC. Previously, CNF <a href="https://www.crypto-news-flash.com/bitcoin-accumulation-matches-2019-100k-parabolic-rally-imminent-these-2-altcoins-are-set-to-explode-in-price/">reported</a> that Bitcoin accumulation mirrors 2019 levels, suggesting a $100K parabolic rally is imminent. This has also sparked speculation that certain altcoins are set to explode in price.</p> 
     <p>In brief, <a href="https://www.crypto-news-flash.com/future-of-bitcoin-the-potential-of-bitcoin-mining-and-the-possibility-of-bitcoin-price-surpassing-100000/">Bitcoin’s price</a> surge is attributed to five key factors:</p> 
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      <li>Strategic Withdrawals: Over 23,000 BTC were strategically withdrawn from major exchanges like Coinbase Pro and Bitfinex, indicating strong confidence from long-term holders.</li> 
      <li>Strong ETF Inflows: Significant investments from institutions like BlackRock and Fidelity have boosted Bitcoin ETFs, reflecting increased investor trust.</li> 
      <li>Growing Institutional Interest: Companies like Goldman Sachs and Morgan Stanley are increasingly investing in Bitcoin ETFs, solidifying Bitcoin’s status as a credible asset.</li> 
      <li>Political Influence: The U.S. elections are driving market optimism, with pro-crypto candidates contributing to Bitcoin’s positive outlook.</li> 
      <li>Fed Rate Cut Expectations: Anticipation of a Federal Reserve rate cut is enhancing Bitcoin’s appeal as a hedge against inflation.</li> 
     </ol> 
     <p>Mirroring previous events, Bitcoin surged past $61,000, fueled by $2.5 billion in stablecoin inflows. In our recent <a href="https://www.crypto-news-flash.com/bitcoin-traders-watch-for-potential-rally-as-2-5-billion-in-usdt-and-usdc-inflows-boost-prices/">update</a>, institutional investors, including Goldman Sachs, are boosting Bitcoin’s performance with increased activity in spot Bitcoin ETFs. As of now, BTC is trading at <strong>$58,723.47</strong>, down <span style="color: #ff0000;"><strong>1.62%</strong></span> in the past day but up <span style="color: #008000;"><strong>0.18%</strong></span> over the past week. See BTC Price chart below.</p> 
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Bitcoin (BTC) Price Nears ATH: 5 Reasons It Could Surpass Gold’s Recent Record

Crypto News Flash

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