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BTC Bulls Accumulate

What's to credit for this recent BTC bump?

David Christopher
Feb 8, 2024 • 1 min read

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BTC back above $45K. Bitcoin jumped today, rising 5% to around $45,000. Hovering in the mid-40s for some time now, Bitcoin has demonstrated impressive resilience amid continued bear calls. What's to credit for this recent BTC bump?

This uptick may be owed to capital coming from outside the U.S., in China, Europe, and Canada. ETF Expert Eric Balchunas noted quite the European and Canadian appetite for U.S.-focused assets, providing the market fuel that Bitcoin could potentially be piggybacking off of.

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Written by David Christopher

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.