Cryptocurrency

Bitcoin’s 200-day moving average hits record high as BTC surges 10%.

Bitcoin Sees Price Surge after Positive News

Bitcoin’s Price Surge Explained

According to venture investor and entrepreneur Anthony Pompliano, Bitcoin has been experiencing a price surge since Friday. Despite its volatile nature, Bitcoin has shown consistent growth since the beginning of the year.

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Factors Driving Bitcoin’s Price Recovery

One of the key drivers behind Bitcoin’s recent price increase is the inflow of $63 million into Grayscale’s GBTC ETF on Friday. This marked the first inflow in four months, causing a surge in Bitcoin’s price. Additionally, Bitcoin’s 200-day moving average has reached an all-time high, surpassing $50,000 for the first time.

Current Bitcoin Price Movement

Although Bitcoin briefly surpassed $65,000 earlier today, it has since dropped by 2.14%. At the time of writing, Bitcoin is trading at $63,800.

Stay Updated on Bitcoin News

For more information on Bitcoin’s recent surge and the factors influencing its price, visit the original article on U.Today.

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