🟥 Bitcoin’s price is once again attracting attention, as analysts predict a potential reach of its historic high. Several factors are contributing to the rise in the cryptocurrency’s value.
🟥 Long-term holders (whales) are actively accumulating BTC, moving it off exchanges. Over the past week, the exchange balance decreased by 10,657.87 BTC. A steady influx of funds into Bitcoin ETFs also supports the price. In August, spot ETFs received $35.9 million. Major financial institutions, such as Goldman Sachs and Morgan Stanley, have significantly invested in Bitcoin ETFs.
🟥 A potential decrease in interest rates could weaken the dollar, increasing interest in BTC as a hedge against inflation. All of these factors contribute to bullish sentiment, driving BTC to new highs.