Bitcoin Surges Above $78K Amid Ceasefire Extension and Liquidity Boost 🔥
Bitcoin witnessed another significant surge, trading above $78,000 for the first time in weeks. This comes after surging nearly 6% over the past week. The positive momentum was further fueled by the extension of the ceasefire between the US and Iran, which extended until Washington receives a unified proposal from Tehran.
While geopolitical developments pushed Bitcoin higher, it's also worth noting that ETFs recorded a modest inflow of $11.84 million on Tuesday. This cautious approach reflects investor uncertainty surrounding the ongoing peace talks, but if inflows continue to increase, we could see further upside potential for Bitcoin.
The 4-hour BTC/USD chart is currently bullish with buyers in control, supported by both EMAs and constructive RSI/MACD readings. Resistance levels are set at $78,962, followed by the $80,000 level and the 200-day EMA at $82,769.
Let's see how Bitcoin performs as markets absorb the news of increased liquidity from US Treasury’s buyback plan this week. 🌟
Are you bullish on Bitcoin before any more news? 👇
#Bitcoin #BTC #LiquidityBoost