{"id":344480,"date":"2024-07-15T15:40:36","date_gmt":"2024-07-15T10:10:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-soars-above-63000-data-signals-rally-will-sustain-for-longer-matrixport-crypto-news\/"},"modified":"2024-07-15T15:45:03","modified_gmt":"2024-07-15T10:15:03","slug":"bitcoin-soars-above-63000-data-signals-rally-will-sustain-for-longer-matrixport-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-soars-above-63000-data-signals-rally-will-sustain-for-longer-matrixport-crypto-news\/","title":{"rendered":"Bitcoin Soars Above $63000, Data Signals Rally Will Sustain For Longer: Matrixport – Crypto News"},"content":{"rendered":"

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Bitcoin price hits $63,000 as upside momentum continues across crypto and equity markets following Donald Trump assassination attempt. On-chain analyst and capital market expert predict this rally will continue for longer periods as whales, institutional investors, and retail investors have started to buy BTC again. Is a new all-time high on the cards?<\/p>\n

Bitcoin Price Rally To Continue<\/h2>\n

Following Donald Trump assassination attempt, Bitcoin price closed the week above $60,000 to trigger a massive momentum. BTC price has now rallied above $63,000 supported by spot and derivatives buying.<\/p>\n

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Matrixport predicts Bitcoin buying activity will sustain for a longer period, making it less reliant on macroeconomic events. The forecast came in response to more than $1 billion in inflow into spot Bitcoin ETF<\/a> in the U.S. in a week. The ETF inflows were closely linked to cooling inflation and slowing labor market in the United States. Analysts at Matriport stated that spot Bitcoin ETF inflows are more likely after last week\u2019s weaker than expected CPI<\/a> release.<\/p>\n

\u201cNotably, the initial institutional buying driven by high arbitrage opportunities has shifted to less stop-loss sensitive retail investors,\u201d the crypto company said on July 15.<\/p>\n

On-Chain Data Signals High Buying Sentiment<\/h2>\n

According to Coinbase premium gap<\/a> data by CryptoQuant, US whales have turned positive on Bitcoin after weeks of selling BTC. With concerns over the German government Bitcoin selloff now over, the rebound has slightly compensated for the decline. Also, the Bitcoin rebound on the weekend indicates that additional funds are expected to flow into the spot Bitcoin ETFs.<\/p>\n

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