Bitcoin has been reaching new all-time highs almost daily since breaking its March ATH of $73,737. However, despite this rally, investors are not rushing to take profits, with the volume of profit-taking significantly lower than in previous instances. The market is absorbing the minor selling pressure, indicating a healthier market environment. Flows into US Bitcoin ETFs reached a record high after the US elections, indicating increased demand. Spot market buying on exchanges and open interest for Bitcoin futures and perpetual trading pairs have also reached ATH levels. Bitfinex believes that this surge in investor interest and institutional participation will continue to drive upward momentum in the near term.



Other News from Today