Bitcoin Seeks Longest Winning Streak Since October
- Bitcoin (BTC) rose over 1% to $92,213.03 during Monday’s Asian trading session, aiming for a five-day winning streak.
- At its peak, Bitcoin prices exceeded $93,000, while alternative cryptocurrencies like Ethereum (ETH) and XRP saw gains of up to 1%.
- The CoinDesk indices reflected a broader market increase, with the CoinDesk 20 and CoinDesk 80 rising by approximately 1.5%.
- Markus Thielen from DeFi research noted improved market sentiment following December’s options expiry.
- On Friday, Bitcoin spot ETFs attracted over $471 million, marking the highest single-day inflow since November.
The recent uptick in Bitcoin’s price is linked to increased geopolitical tensions and a shift in investor sentiment towards safer assets like cryptocurrencies and precious metals. This change comes after a period of tax-loss selling that impacted market performance in December.
As Bitcoin holds above its key moving average, the near-term outlook remains positive, with recent ETF inflows indicating renewed interest in the cryptocurrency market.(Source)
