Bitcoin Has an overdeter during the Asian session on Sunday, moving from $ 122,000 to $ 124,289 in a few minutes, stopping in less from the record summit of $ 124,429 reached in August.
The rupture above $ 124,000 followed a massive request for funds on the stock market (ETF) classified by the United States. which collectively records a net influx of $ 3.24 billion last week. This marks the second most important weekly influx, according to the Sosovalue data supplier.
Other tokens such as XRP, ETH, Sol, Doge followed the example of BTC, winning from 1% to 3% during Asian hours.
Request for paradise
The BTC rally arrives in the context of a continuous closure of the American government, which, according to analysts, increased the demand for safe for the upper cryptocurrency.
Jeff Dorman, Director of Investments at Arca, noted just before the start of the closure: “The only time I buy BTC is when the company loses confidence in governments and local banks. $ BTC probably a good purchase here before another closure of the American government.”
Beyond political uncertainty, experts highlight important macroeconomic factors that stimulate the rally.
Noelle Acheson, author of Crypto is Macro Now Newsletter, explained: “Beyond climbing the risk of new conflicts, American inflation is more likely to increase than decrease, increased in the world will intensify money problems, and what is good for gold is also good for BTC, especially since it is still unhappy and what is good for gold, Especially since it is still unhappy. “
“In addition, the incoming rush of market support- lower rates, control of the yield curve and many, a lot of” printing money “- will increase world liquidity, which will infiltrate the more risky corners of institutional portfolios,” she added.
In short, BTC seems ready to go up the impressive gains during the seasonally bullish month of October. At the time of writing this document, cryptocurrency was negotiated about $ 124,080, according to Coindesk data.
