Why is the price up?
Bitcoin rose by 1.78% in the last 24 hours and reached a value of $ 109,500 at the time this article was created. The reason for this was increasing institutional tributaries in spot ETFs, declining global trade voltages and an increasing technical dynamic.
The rally is based on the growing demand for regulated investment instruments and the improving macroeconomic mood, which Bitcoin positions for further price rising.
ETF inflows lead the upward movement
According to the market data on July 3, Spot-Bitcoin ETFs recorded tributaries of more than $ 1 billion within just two days. Large issuers such as Blackrock and Fidelity led the upward movement, which signals a significant change in institutional interest. Analysts indicate that regulated products now make up around 40% of the Bitcoin stock in circulation in the United States, which further breaks down the available liquidity and reinforces the upward pressure to the price.
Commercial loosening and liquidity injection improve the mood
The decision of the US government to reduce tariffs to Vietnamese goods from 46% to 20% has also improved the market mood. This step is regarded as a sign of relaxation of trade voltages and promoting international cooperation. At the same time, the money supply M2 in the USA has increased to $ 55,48 trillions, which leads to an increase in macroeconomic liquidity, which often flows into risk systems such as Bitcoin.
Technical indicators confirm bullish structure
From a chart-technical point of view, Bitcoin has exceeded his 7-day SMA of $ 107,350 and its 30-day SMA of $ 105.926, which confirms the short-term bullish structure. The momentum indicators remain positive, whereby the 14-day relative stringth index (RSI) is 58.32, which indicates further upward potential before overbearing conditions are achieved. In addition, the MACD histogram at +240.66 reflects an increasing bullish dynamic.
