Against the backdrop of rising US Treasury bonds, Bitcoin has emerged as a resilient alternative asset that is not subject to government intervention, unlike gold or real estate. The influx of significant funds into Bitcoin ETFs can indicate this.
OTC market activity shows a significant decrease in Bitcoin inventory, leading to an imbalance in supply and demand, and therefore a shift towards purchasing on exchanges, resulting in a decrease in balances.
The valuation of Bitcoin remains a mystery. It holds a unique status as a social currency, without a specific model that can fully estimate its value. In addition to this, insight into its intrinsic value can be gained through comparing mining costs with traditional assets such as gold.
The trend of regular investment indicates that the “ignore price” trend is growing based on optimism about the halving market. With bullish sentiment and a lack of sellers, Bitcoin is on the verge of breaking historical highs.