Key takeaways:
- Bitcoin rallied 14% in a week, eyeing $124,000 amid a US government shutdown.
- Onchain data showed a $1.6 billion surge in buying and a Coinbase premium gap of $92, signaling US-led demand.
- Analysts see resistance near $130,000, with price discovery possible next week.
Bitcoin (BTC) has staged a fierce rally over the past week, climbing 14% to trade a few dollars away from $124,000 from a range low near $108,600 last Friday. This surge could nudge Bitcoin into fresh price-discovery territory above $125,500, as the total crypto market cap pushed above $4.21 trillion, a mark that underscored the broad strength of this rally.
One surprising catalyst behind this price rise is the US government shutdown and how markets…more
Source cointelegraph.com
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