US dollar weakness, growing money supply could fuel Bitcoin 2025 rally
Bitcoin price rallied over 58% since May, when the M2 money supply turned positive year-over-year for the first time since November 2023.
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Bitcoin price rallied over 58% since May, when the M2 money supply turned positive year-over-year for the first time since November 2023.
Bitcoin’s record monthly gains come eight days before the end of November — historically the most bullish month for Bitcoin returns.
The analyst’s predictions come shortly after Bitcoin staged the best weekly return since the 2023 US banking crisis.
In comparison, Bitcoin’s second-best daily gain occurred in August 2021, when the price rose over $7,576 in 24 hours, from $38,871 to $46,448.
Increasingly more analysts expect Bitcoin to breach the $100,000 mark before the end of 2024 as investor appetite was bolstered by Trump’s presidential victory.
Analysts say Bitcoin is ready to test new highs after the US elections conclude, but $70,000 needs to hold as support first.
Bitcoin appears primed for new highs before 2025, according to numerous BTC price metrics.
“Bitcoin is currently being used as a liquid proxy to hedge a Trump win,” which was previously seen as “underpriced,” according to an analyst.
Despite this week’s Bitcoin price drop, whales continued to add to their balance and the current v-shaped BTC recovery could be a sign that new […]
New and old Bitcoin whale wallets have been gobbling up BTC, mirroring a 2020 trend that saw the asset rally by 550%.
