The price of bitcoin rose to above $ 122,000 on Monday, three straight days of the Bitcoin Exchange-Trade Fund to manufacture at speed from a bullish executive order in Washington and close last week.
Henrik Anderson, Chief Investment Officer of Apollo Crypto, said the step was overdue after a month of consolidation.
“In our view it will break down some time ago. In this time we have seen positive ETF flows, more treasury companies buying bitcoins and many positive development coming out of the White House.”
Bitcoin (BTC) exceeded 3.3% more than $ 122,150 in the early hours of Monday morning, extended its $ 123,000 all-time high, the striking distance of the tradingview data Show.
He said, “Bitcoin is trapped in a low-stagnation band between $ 115,000 and $ 120,000 despite all good news,” he told the coinlagraph.
Although no clear catalyst is behind the sudden two -hour climb of bitcoin, US President Donald Trump’s alleged executive order is probably seen as a boost for the industry to allow cryptocurrency in 401 (K) retirement plans.
This order is important because it can open another $ 9 trillion funds to flow into the bitcoin and broad crypto industry.
There is also to buy more bitcoins on the horizon. Michael Siler on Sunday Indicated With that strategy on X, it will add more bitcoin to your $ 76.8 billion Stash, stating: “If you don’t stop buying bitcoins, you will not stop making money.”
Bitcoin ETF issuers scooped a joint $ 773 million worth $ 773 million of Bitcoin to shut down the last three trading days last week, Ferruside Investors data Show.
Bitcoin market spirit did not overcome
Despite the rally, Crypto Fear and Greed Index score Still in 70 out of 100 is in the “greed” region, it shows that the spirit of the social market is not too much.
While Bitcoin was still trading below $ 120,000 when the score was updated on Monday, it marked only one-point growth from yesterday.
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Meanwhile, google search interest for bitcoin is only Risen In the last week, 48 out of 100 scored relative to the highest point in the last 12 months. The point took place between 10–16 November after Trump won the election.
BTC, Eth, Push Crypto Market to New High
The increase of more than $ 122,000 bitcoin also helped make it for the distance lost on late Ether (ETH), which has increased by 1.8% in the last 24 hours compared to 3.3% of BTC.
Eth 9 has increased by about three times $ 1,435 on 9 April, through $ 4,315 at writing, tradingview data Show.
The price rallies of BTC and ETH also pushed the total crypto market cap to $ 4.14 trillion on Monday, establishing a new all-time high, Koingko. data Show.
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