CandleFocus What Has Driven Bitcoin to $66.5K in Bullish Market Pivot?
2024-10-15
Author: Content Editor
Bitcoin prices reached $66,500 on Oct. 14 but retraced to $65,400 due to resistance. Despite this, BTC is up 2.4% on the day and has gained 5% since last week. CryptoQuant CEO Ki Young Ju noted that apparent demand for Bitcoin is back to levels not seen since the March and April highs. Bitcoin market sentiment is bullish, with the Fear and Greed Index at 65. BlackRock CEO Larry Fink suggested that Bitcoin could become as big as the US housing market, leading to speculation about potential BTC price gains. Institutional investors are also bullish, with US spot Bitcoin ETFs seeing a large net inflow of $556 million. Japanese investment firm Metaplanet made another BTC purchase, bringing its total stash to 855.4 BTC.
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