Cryptocurrencies Surge towards the Week of CPI, Amidst Increasing Institutional Investments
In a significant development for the cryptocurrency market, Bitcoin (BTC) and Ethereum (ETH) have both reached near all-time highs.
Bitcoin, the world's largest cryptocurrency by market capitalisation, has surged to levels not seen since its peak in 2021. This latest surge comes as institutional investors and long-term investors continue to pour money into the market, with ETF (Exchange-Traded Fund) flows and institutional bids playing a key role in the market recovery.
Meanwhile, Ethereum has also made a significant leap, surpassing $4,300 for the first time since 2021. This surge in Ethereum's value is also attributed to the increased interest from institutional investors and the growing adoption of decentralised finance (DeFi) applications on the Ethereum network.
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The weekend breakout in thin liquidity also confirms structural resilience for both Bitcoin and Ethereum. This suggests that the market is showing signs of strength, even in periods of lower trading activity.
As the market continues to rally, the Consumer Price Index (CPI) is the near-term pivot point for further growth. As such, hedging CPI downside via options is recommended as a strategy for those looking to protect their investments.
A positioning bias also suggests maintaining core exposure and adding on dips toward $116K BTC and $3.8K ETH. This strategy could potentially yield significant returns for those who are willing to take on a higher level of risk.
In conclusion, the cryptocurrency market is experiencing a significant surge, with Bitcoin and Ethereum both reaching near all-time highs. However, it's important to note that this post is part of a paid subscription service, and only paying subscribers can view this content. For those interested in staying up-to-date with the latest developments in the cryptocurrency market, a subscription is highly recommended.
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