{"id":564,"date":"2021-04-14T09:13:27","date_gmt":"2021-04-14T08:13:27","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=564"},"modified":"2021-04-14T09:13:28","modified_gmt":"2021-04-14T08:13:28","slug":"top-5-reasons-for-the-latest-bitcoin-btc-rally","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/top-5-reasons-for-the-latest-bitcoin-btc-rally\/","title":{"rendered":"Top 5 Reasons for the Latest Bitcoin (BTC) Rally"},"content":{"rendered":"##\n<p>The <a href=\"\/news\/is-this-the-bitcoin-btc-top-smart-money-says-no\/\">Bitcoin (BTC)<\/a> market price is on fire again, repeatedly striking new highs in the past few days. BTC traded above $64,000 on international markets, on robust volumes above $74B in 24 hours. <\/p>\n\n\n\n<p>The recent expansion of BTC is a mix of short-term enthusiasm and long-term convergence with predictive models. The Korean trading premium is once again in the lead, and in the BTC\/KRW pair on Upbit exchange the price has reached the equivalent of $72,994.82.<\/p>\n\n\n\n<p>BTC expanded on Monday, after a relatively strong weekend held the prices closer to $60,000. But the bullish factors for BTC remain strong, with expectations of a new trading range close to $70,000.&nbsp;<\/p>\n\n\n\n<p>The most recent bullish factors for BTC are adding to the hype and trading activity.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Coinbase Going Public<\/strong><\/h3>\n\n\n\n<p>Coinbase has been given the green light to proceed with a direct listing on NASDAQ, expected later on April 14. The most optimistic scenarios envision a company valuation of $100B. The reference price ahead of the listing is at $250, giving the company a fully diluted valuation of $65B.&nbsp;<\/p>\n\n\n\n<p>In addition to the listing, access to the price of Coinbase stock will be available through <a href=\"\/exchanges\/binance\/\">Binance International exchange<\/a>, in a tokenized form.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> Will List the <a href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@Coinbase<\/a> Stock Token <a href=\"https:\/\/twitter.com\/search?q=%24COIN&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$COIN<\/a><br><br>\u27a1\ufe0f <a href=\"https:\/\/t.co\/8WCWLvJI9a\">https:\/\/t.co\/8WCWLvJI9a<\/a> <a href=\"https:\/\/t.co\/x6XvADlp52\">pic.twitter.com\/x6XvADlp52<\/a><\/p>&mdash; Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1382207861518786563?ref_src=twsrc%5Etfw\">April 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The US session for BTC will take off with the actual news of the beginning of trading, and may start affecting the price of BTC.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>BTC is on Track for Bigger Gains<\/strong><\/h3>\n\n\n\n<p>BTC predictive models envision bigger gains in the future. This factor changes investor behavior, and puts a stop on selling. Instead, more BTC is pulled into private wallets, as a high-priced asset is more suitable to preserve or move wealth.&nbsp;<\/p>\n\n\n\n<p>The current price level is viewed as just a milestone to prices above $100,000.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">This is getting ridiculous.  A year ago we predicted Bitcoin hitting $62,968 this week.  It just did.  <br><br>This Bitcoin rally is EXACTLY like previous halvings.  Likely to reach $115k by August.<br><br>April 2020 Investor Letter: <a href=\"https:\/\/t.co\/RMwSbqlS8m\">https:\/\/t.co\/RMwSbqlS8m<\/a> <a href=\"https:\/\/t.co\/2vwuDb91qQ\">pic.twitter.com\/2vwuDb91qQ<\/a><\/p>&mdash; Dan Morehead (@dan_pantera) <a href=\"https:\/\/twitter.com\/dan_pantera\/status\/1381971190479130628?ref_src=twsrc%5Etfw\">April 13, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In the short term, the price may still correct, but for now, models view BTC as being on-track to rise based on growing scarcity.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>High Liquidity Looking for Investment Opportunities<\/strong><\/h3>\n\n\n\n<p>High US dollar liquidity injected into the market in various forms of stimulus is bringing new money to the table. Demand for returns remains significant, and the growth of BTC is now more attractive for both speculation and long-term investments.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">6.1% of US dollar supply captured by <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> market cap <a href=\"https:\/\/t.co\/jyUCnGuMXE\">pic.twitter.com\/jyUCnGuMXE<\/a><\/p>&mdash; \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) <a href=\"https:\/\/twitter.com\/BTC_JackSparrow\/status\/1382132909226786818?ref_src=twsrc%5Etfw\">April 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At the same time, on the level of personal finance, BTC holds a promise to offset consumer price inflation. The recent data are showing accelerated consumer price growth and potentially adding to the appeal of scarce, hard money.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US March CPI +0.6% m\/m after +0.4% in February, highest since 2012. Higher gas prices drove half the rise. Consensus +0.5%. Core CPI +0.3% m\/m, highest in seven months and reflecting rising rents and auto insurance. <a href=\"https:\/\/t.co\/kdTw6tpjjc\">https:\/\/t.co\/kdTw6tpjjc<\/a><a href=\"https:\/\/twitter.com\/hashtag\/USA?src=hash&amp;ref_src=twsrc%5Etfw\">#USA<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CPI?src=hash&amp;ref_src=twsrc%5Etfw\">#CPI<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/markets?src=hash&amp;ref_src=twsrc%5Etfw\">#markets<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/investing?src=hash&amp;ref_src=twsrc%5Etfw\">#investing<\/a> <a href=\"https:\/\/t.co\/Evw6HRKrSz\">pic.twitter.com\/Evw6HRKrSz<\/a><\/p>&mdash; \ud835\ude73\ud835\ude70\ud835\ude78\ud835\ude7b\ud835\ude88 \ud835\ude7c\ud835\ude70\ud835\ude81\ud835\ude7a\ud835\ude74\ud835\ude83 \ud835\ude7f\ud835\ude78\ud835\ude72\ud835\ude83\ud835\ude7e\ud835\ude81\ud835\ude78\ud835\ude70\ud835\ude7b (@MarketPictorial) <a href=\"https:\/\/twitter.com\/MarketPictorial\/status\/1381954972405919744?ref_src=twsrc%5Etfw\">April 13, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stablecoins Usage Indicates Demand<\/strong><\/h3>\n\n\n\n<p>The issuance of dollar-pegged stablecoins shows robust demand for BTC. Most of the assets are usable for arbitrage and are one of the convenient ramps between fiat and crypto coins. Recently, USDC, one of the most transparent and regulated stablecoins, showed a growing supply.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5  39,957,338 <a href=\"https:\/\/twitter.com\/hashtag\/USDC?src=hash&amp;ref_src=twsrc%5Etfw\">#USDC<\/a> (39,957,338 USD) minted at USDC Treasury<a href=\"https:\/\/t.co\/G0nXuTbMPe\">https:\/\/t.co\/G0nXuTbMPe<\/a><\/p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1382228224969748480?ref_src=twsrc%5Etfw\">April 14, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>USDC reflects real-life demand through deposits, which triggers the smart contract to issue the new tokens.&nbsp;<\/p>\n\n\n\n<p>The supply of the leading stablecoin, Tether (USDT) is now above 45B tokens spread on various networks. New USDT issues reflect on the markets as added liquidity.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5 \ud83d\udcb5  1,200,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/USDT?src=hash&amp;ref_src=twsrc%5Etfw\">#USDT<\/a> (1,197,410,748 USD) minted at Tether Treasury<a href=\"https:\/\/t.co\/LERd6L63y9\">https:\/\/t.co\/LERd6L63y9<\/a><\/p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1377641254813630472?ref_src=twsrc%5Etfw\">April 1, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>No stablecoin has burned its supply in the past year, and money is entering and not leaving the crypto space. This approach suggests a paradigm shift, instead of a short-term attempt to make gains on the crypto market. Instead, money flowing into crypto tends to stay within the economy, spilling over into other assets.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Altcoin Markets Add to the Confidence<\/strong><\/h3>\n\n\n\n<p>The BTC market is not really competing with the altcoin market. Instead, almost all assets are on an upward trajectory. During the latest BTC run above $64,500, some altcoins outperformed.&nbsp;<\/p>\n\n\n\n<p>Perhaps the most iconic case is Dogecoin (DOGE), which peaked above $0.13, an unprecedented level for an asset where $0.01 was considered a peak price. The recent price spike is based on rumors for a Coinbase listing.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DOGE<\/a> WILL BE LISTED ON COINBASE! \ud83d\ude80<\/p>&mdash; Dogecoin (@investments_ceo) <a href=\"https:\/\/twitter.com\/investments_ceo\/status\/1382111179649249282?ref_src=twsrc%5Etfw\">April 13, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At this point, it is uncertain what the fate of DOGE will be, as the asset is highly volatile. But the performance shows there is enough demand and exuberance on the crypto market to keep the prices stoked throughout 2021.&nbsp;<\/p>\n\n\n\n<p>The current market conditions also indicate the top is nowhere near, with much leeway for new price highs. While in the short term prices may suffer setbacks, for now money is flowing into crypto investment.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Are we in the market cycle high?<br><br>No.<br><br>When the market reaches its peak, everyone deposits BTC to exchanges to sell. # of inflow addresses across all exchanges was at its highest in 2018 Jan, while it hit a three-year low a few days ago. <br><br>People are holding, not selling <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>. <a href=\"https:\/\/t.co\/5WiofVcEe7\">pic.twitter.com\/5WiofVcEe7<\/a><\/p>&mdash; Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1379683636421652482?ref_src=twsrc%5Etfw\">April 7, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>BTC futures trading also remains highly active, reaching peak open interest. The current spike above $62,000 was indicated by the past few days of futures market behavior.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PAData?src=hash&amp;ref_src=twsrc%5Etfw\">#PAData<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> surpassed US$60,000 yesterday with multiple indicators showing a space for further growth. Monitored by <a href=\"https:\/\/twitter.com\/skewdotcom?ref_src=twsrc%5Etfw\">@skewdotcom<\/a>, BTC futures aggregated open interest hit a new record high: The total reached ~US$24.5bn by Apr 11, a growth of 155.21%, or $9.6bn from Jan.1. <a href=\"https:\/\/t.co\/MB187IRuqR\">pic.twitter.com\/MB187IRuqR<\/a><\/p>&mdash; PANews (@PANewsOfficial) <a href=\"https:\/\/twitter.com\/PANewsOfficial\/status\/1381496938109882371?ref_src=twsrc%5Etfw\">April 12, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At the current price levels, BTC futures indicate continued expansion in the coming months. The high futures open interest is an attempt to control for BTC volatility, potentially making use of more significant price moves.&nbsp;<\/p>\n##","protected":false},"excerpt":{"rendered":"<p>BTC is headed for a new price range, boosted by the event of the direct listing of Coinbase.<\/p>\n","protected":false},"author":3,"featured_media":565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[23,2,12,131],"class_list":["post-564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-binance","tag-bitcoin","tag-btc","tag-record","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=564"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/565"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}