- Following the recent assassination attempt on U.S. presidential candidate Donald Trump, Bitcoin has surged to $63,000, reflecting a strong bullish trend in the crypto market.
- Experts from Matrixport suggest that this upward momentum is likely to continue, supported by renewed interest from both institutional and retail investors.
- According to analysts, Bitcoin’s recent performance has been bolstered by significant spot and derivative purchases, pushing it past the $63,000 mark.
Bitcoin gains momentum as interest surges amid geopolitical events.
Bitcoin Surges to $63,000 Post-Geopolitical Turmoil
The recent assassination attempt on U.S. presidential candidate Donald Trump has had a significant impact on the crypto market, with Bitcoin rallying to $63,000. This development follows increased purchasing activity from institutional investors, retail buyers, and crypto whales as they return to the market.
Factors Driving the BTC Rally
Matrixport analysts note that the upward momentum in Bitcoin is being driven by sustained buying interest. The analysts highlight that Bitcoin closed the week above $60,000, gaining substantial upward momentum, largely supported by spot and derivative market purchases.
Institutional and Retail Investments Fuel Ongoing BTC Growth
Analysts predict that these buying trends could render Bitcoin less sensitive to macroeconomic events. They point to strong exchange-traded fund (ETF) inflows, coupled with the continued decline in U.S. inflation, as key drivers of the cryptocurrency’s sustained rise. As of last Friday, spot Bitcoin ETF inflows reached $310 million, the highest in over a month, signaling robust institutional interest.
Shift from Institutional to Retail Investors
Interestingly, the buying interest has transitioned from institutions to individual investors, who are less likely to trigger stop-loss orders. This shift may prolong Bitcoin’s upward trajectory and reduce its vulnerability to broader economic data. Analysts assert that the initial institutional interest, driven by high arbitrage opportunities, is now evident among retail investors, suggesting a potential for a longer-term rally.
Analysts Predict Further Gains
Popular analyst Rekt Capital highlighted on July 15th that Bitcoin has broken above a 1.5-month downtrend, signaling the end of bearish divergence. Rekt Capital argues that Bitcoin is poised to initiate a new price movement cluster above $65,000, further supporting the bullish forecast.
Conclusion
In summary, Bitcoin’s strong performance following the geopolitical turmoil surrounding the Trump assassination attempt points to a continuing bullish trend. With renewed interest from both institutional and retail investors and key economic indicators supporting the momentum, Bitcoin appears set to maintain its upward trajectory for the foreseeable future.
