Bitcoin’s run seemed to have slowed down last week, but these days it has regained strength in an impressive way. Thus, almost without realizing it, BTC surpassed $60,000 again as the U.S. markets opened.
Bitcoin breaks through $60k thanks to a 7% boost in one day
The new result was established thanks to a 7% increase in the last 24 hours, which adds to a remarkable growth that began at the beginning of the week: +20% starting from a base of $51,500.
Looking at the monthly chart, a close above $60,000 would echo only one previous one, when BTC finished at $61,293 in October 2021.
If the asset were to maintain this level, therefore, not only would BTC portend a further rise, but it could also mark the highest monthly close in its history.
The 60k reached in an instant
The jump, according to leading experts in the crypto sector, would be caused by the scarcity of supply due to BTC spot ETFs, which with their demand have practically drained the liquidity of the asset. You only have to look at the entries into new products, for example, to see that these are many times higher than the BTC generated by mining activities.
The phenomenon, then, seems to have a constant cadence, with entries showing no signs of declining and indeed recording record after record, for a “perfect storm” (this time in a positive way) that is pushing BTC higher and higher.
The entire industry is following the wave of Bitcoin
Bitcoin is dragging the entire industry with it, with altcoins preparing to follow the (fully deserved) enthusiasm of the community. Not only Ethereum, which faithfully replicates BTC’s trend with +16% in the last week, but the entire ecosystem landscape without exception.
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