Bitcoin Price Prediction: Unusual BTC Surge Coincides With Dollar Strength, Rising Treasury Yields As Bitcoin Minetrix Blasts Past $11 Million
The Bitcoin price dropped a fraction in the last 24 hours to trade at $51,989 as of 10:43 p.m. EST on trading volume that dropped 29% to $27.24 billion. That small downturn comes amid a 30% BTC price rally since Jan. 23 that is un usual in coinciding with a period of dollar strength and rising US Treasury yields. Usually Bitcoin does best during periods of dollar weakness and falling Treasury yields. BTC’s strong performance may be attributed to strong inflows into spot Bitcoin ETFs (exchange-traded funds) after they were launched on Jan. 11. It may also be that investors are more bullish on Bitcoin than usual because of the halving that’s coming in April. ❗JUST IN: Bitcoin's Latest Rally is Different as BTC Rises Alongside U.S. Dollar and Treasury Yields❗ Bitcoin has managed to chalk out a double-digit rally recently, ignoring the strength in the dollar index and Treasury yields.#BAYC #CryptoTips #LPT — Better CallBot (@CallBotCrypto...