Bitcoin Price Surge: Key Factors Driving Optimism and Growth

Bitcoin's price surge is driven by two key factors: the German government's near liquidation of its 70,000 BTC holdings and a weakening US dollar amid a growing deficit. Institutional investors have been buying the Bitcoin dip below $60,000, indicating potential for the cryptocurrency to bottom out near its recent market lows. Bitcoin's gains also align with a decline in the US dollar index, as lower interest rates and a higher deficit can weaken the dollar and prompt investors to seek returns..

Crypto markets staged a relief rally on Friday morning following a massive selloff on Thursday that led to $324 million in futures liquidations.Ethereum (ETH) registered a 3% increase to $3,264, while Bitcoin (BTC) jumped by 4.5% to $67,000. Solana (SOL) and Polkadot (DOT) also gained 3%.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Bitcoin faces $63K pressure from $3.9B futures expiry on Deribit; Ether struggles after ETF launch; Bitcoin needs $65K support; US Bitcoin ETFs see inflows; Marathon buys $100M BTC to go 'full HODL'; $5.48B total options expired on Deribit, including $1.57B Ether.