Matrixport emphasized that the trading volume of the first cryptocurrency was 50% higher than the level observed during the growth of asset quotes in March.
“In addition to increased trading volume, which is a bullish indicator, searches for Bitcoin on Google Trends have skyrocketed, and spot Bitcoin ETFs are seeing record inflows,” the analysts said.
In their opinion, the current market situation is favorable for the value of the first cryptocurrency. Investors are speculating that the US Federal Reserve (Fed) will once again cut interest rates, which could be another growth catalyst for Bitcoin and other digital coins.
Now it is important for Bitcoin to hold the key support zone at $90,000 in order to continue its upward rally, experts said.
Earlier, the president of the crypto exchange and Web3 company OKX, Hong Fang, said that the growth of Bitcoin in the coming months will be influenced by two types of factors – macroeconomic and regulatory.
Source: Bits
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