Bitcoin price rose to nearly $68,000 as of writing, currently at $67,900. Cryptocurrency investors experienced rapid fluctuations throughout July. Altcoin prices saw movements exceeding 20%. Now, BTC is near $68,000 but needs more momentum.
Why is Bitcoin Rising?
Following Bitstamp returns that started yesterday, we didn’t see massive sell-offs, and investors realized they were amplifying FUD with panic. BTC price, rising more than 6% daily, might soon pull altcoins up. US stock markets began recovering, and despite poor PCE data, BTC is rebounding from panic-induced drops.
If the recent rise triggers strong ETF inflows, we could have a good weekend. Additionally, Trump will make statements at the Bitcoin 2024 event in about 24 hours. The bill expected to be announced by Lummis and Trump’s potential good news have already excited investors. If closures above $67,500 continue, new peaks won’t be surprising.
