CandleFocus Why Did Bitcoin Price Rise? Analyst Reveals First Quarter 2025 Price Prediction for BTC
2024-10-14
Author: Content Editor
Bitcoin (BTC) has risen 6% to above $66,000 and surpassed its 200-day moving average, attracting traders' attention. The recent breakout is significant, given multiple failed attempts to break above this level. Positive sentiment in the market is fueled by factors such as coin accumulation and optimism about the US presidential election. The rally coincides with positive inflation data from the US Producer Price Index (PPI), which indicates easing inflationary pressures. This data could act as a catalyst for Bitcoin's upward movement. Analysts predict that Bitcoin could trade between $50,000 and $80,000 by year-end, with potential volatility in the first quarter of 2025.
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