Bitcoin ETF impulse fuels 'fantastic' $29K BTC price breakout
Bitcoin is "very unlikely" to leave its trip to $29,000 as a fluke spike, one popular analyst says. Bitcoin (BTC) hit $29,000 on June 21 as largescale buying fueled a fresh sentiment boost. BTC/USD 1-hour chart. Source: TradingView Analyst: $29,000 becoming fakeout "very unlikely" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $29,014 on Bitstamp — its highest since May 7. The pair enjoyed continued buyer interest overnight, this coming on the back of multiple announcements concerning new Bitcoin-focused institutional investment products. This is not a short squeeze, but someone(s) is just buying $BTC a lot. I repeat. This is not a short squeeze, but someone(s) is just buying $BTC a lot.https://t.co/gkt9JiizM3 https://t.co/46KZRb0AMS pic.twitter.com/mPZzN317A8 — Ki Young Ju (@ki_young_ju) June 21, 2023 For analysts, who were previously concerned about overall market strength, the latest action was cause for a modest rethink. “Fantasti...