CandleFocus

Bitcoin nears all-time high with stable metrics, signaling strength for further upside – K33 Research

According to a report by K33 Research, Bitcoin's recent rally to all-time highs has been steady and devoid of the usual frenzy, suggesting room for further price growth. Despite an over 8% gain in the past week, Bitcoin's trading volumes remain subdued, indicating a healthier buildup rather than panic-driven buying. Ethereum lags behind Bitcoin, reflecting a shift in focus within the crypto space. The report also highlights that Bitcoin's current market conditions and futures contracts reveal a more balanced and less leveraged environment compared to earlier in the year. The report suggests that favorable market conditions and upcoming election influences could contribute to sustained momentum for Bitcoin. Additionally, the report predicts potential gains for the crypto market if former US President Donald Trump wins the race, as his supportive regulatory stance on digital assets could spark a surge. However, a win by Vice President Kamala Harris may temper this momentum, but could also be less hostile to the crypto industry.

Related News