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news-imageNovember 14, 2024

Experts Cite Supply Shock as Major Driver Behind Bitcoin's Price Surge

Bitcoin has seen a significant surge in price recently, climbing to $87,378, and while some have attributed this to political events like Donald Trump's election victory, experts are largely focusing on another key factor: a supply shock following Bitcoin's halving event. According to Jesse Myers, co-founder of Onramp Bitcoin, while a Bitcoin-friendly administration may have played a role, the primary reason for this surge is the reduced supply of new Bitcoin entering circulation, creating a scarcity that drives up demand.
Publisher: The Currency Analytics
Sentiment: Positive
BTC

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Bitcoin Stays Above $91,000—But One Technical Indicator Spells Trouble

Bitcoin's (CRYPTO: BTC) relentless climb over the $90,000 level has investors cheering, yet a specific technical indicator is sparking caution among experts, suggesting potential vulnerability in the current rally. What Happened: The stochastics indicator, which has reached 90%—a level typically associated with overbought conditions—is prompting market watchers to advise caution, even as the bull market remains intact.

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