Bitcoin returned this week with a clear rebound, once above $79,000, and then around $779 million. According to CoinGecko, the BTC has increased by 8.8 per cent over the past 24 hours, and over the past seven days has increased by nearly 24 per cent, recovering part of the decline in previous months in a short time.
The White House encryption drivees the mood back up.
The report links the round to a encryption event in Trump at the White House. The event was attended by senior and founders of various encryption platforms and companies. At the scene, Trump stated that the United States was considering the purchase of a large number of bitcoin and other encrypted assets, a statement that subsequently raised market sentiment.
Against this background, the increase in bitcoin has significantly increased in recent days. The report mentions that the Standard 500 index has a common annual increase of about 10 per cent, while Bitcoin has achieved higher stages of return in just a few days, significantly stronger than the traditional stock market.
More than 20% a week.
- At one point, the disk rose to $79,000 above.
- The hour increase is about 8.8%.
- 7 days cumulative increase close to 24%
According to the report, this meant that bitcoin had wiped out a decline of about three months in a short period of time, with a consequent rise in market risk preferences.
Inflation and interest rates remain the next variable
However, the report also mentions that inflation in the United States is still above the Federal Reserve target of 2 per cent. If inflation is delayed, interest rates may continue to remain high or even increase further.
In such cases, high-risk assets may be under pressure to withdraw funds, and bitcoin may also be retraced. In other words, while the current increase is strong, the macro-level environment will continue to influence the subsequent performance of the encryption market.