Franklin

Bitcoin

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Trillion

<ul> 
 <li>Bitcoin sees a 6.3% uptick, propelled by massive liquidations by FTX and Alameda Research.</li> 
 <li>Franklin Templeton joins the Bitcoin ETF arena, adding credence to BTC’s bullish trend.</li> 
 <li>Market watchers eye CPI data, as higher inflation could impact Bitcoin’s market trajectory.</li> 
</ul> 
<p>Amid heightened market volatility, Bitcoin once again emerges as an intriguing narrative. Propelled by a colossal liquidation undertaking by FTX and Alameda Research, the cryptocurrency manifested a striking over 6% surge, solidifying at a crucial $25.9K support level.</p> 
<p>Institutional players are amplifying this wave; <a href="https://twitter.com/seth_fin/status/1701628448001691816" rel="noopener noreferrer nofollow">Franklin Templeton</a> recently filed for a Bitcoin ETF, aligning its strategy with industry behemoths like BlackRock and Ark Invest.</p> 
<p>As if scripted, the market holds its breath for the upcoming Consumer Price Index (CPI) data. With predictions of a 0.6% month-over-month increase, the outcome could either fortify or disrupt the U.S. dollar and, by extension, Bitcoin’s market stance.</p> 
<p>Yet, there’s no dismissing the technical indicators. Despite a foreboding daily death cross, Bitcoin exhibits a rising divergence in its Relative Strength Index (RSI).</p> 
<p>This buttresses the prevailing sentiment among experts that Bitcoin could indeed extend its climb to $27K, notwithstanding impending bearish pressures.</p> 
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  <blockquote class="wp-embedded-content" data-secret="lOSHuCD1av"> <a href="https://cryptonewsland.com/bitcoin-btc-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Prediction 2023 to 2031: Will BTC Price Hit $69K Soon?</a> 
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</figure> 
<p>Let’s be clear: Bitcoin is not just navigating the waves; it’s preparing to make its own. With institutional backing and solid technicals, Bitcoin is not just a speculative asset but an emerging financial cornerstone.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/bitcoin-investors-beloved-eyeing-a-50k-triumph/" rel="noopener noreferrer nofollow">Bitcoin: Investors’ Beloved Eyeing a $50K Triumph</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-btc-price-analysis-aug-week-3-to-4/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Analysis Aug Week 3 to 4</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-community-rejoices-btc-market-cap-is-above-600-trillion/" rel="noopener noreferrer nofollow">Bitcoin Community Rejoices, BTC Market Cap Is Above $600 Trillion</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-btc-is-unstoppable/" rel="noopener noreferrer nofollow">Despite the FTX Crash, Bitcoin Is Unstoppable</a></li> 
 <li><a href="https://cryptonewsland.com/heres-why-bitcoin-is-unlikely-to-hit-12k-anytime-soon/" rel="noopener noreferrer nofollow">Here’s Why Bitcoin is Unlikely to Hit $12k Anytime Soon</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/whats-pushing-bitcoin-up-today-the-27k-question-answered/">What’s Pushing Bitcoin Up Today? The $27K Question Answered</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

What’s Pushing Bitcoin Up Today? The $27K Question Answered

Crypto News Land

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