What's Driving Bitcoin Above $60K?

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[{"selector":"#anim-e847f7d3-22b8-43df-b8ad-37c7d62c592f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Institutional investor demand has propelled Bitcoin's surge. MicroStrategy added 3,000 Bitcoins to its 193,000 BTC holdings. Bitcoin costs $51,813 on average.

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[{"selector":"#anim-56541f5c-776d-459f-a2f7-9b819ef14d26","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d423cd3e-cf4d-43bd-9757-668a6beb42c9","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Growing institutional interest and constrained Bitcoin supplies support Bitcoin's appreciation. The April "halving" incident is also generating excitement in Bitcoin.

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Today, the CMC Crypto Fear and Greed Index is 80. The strong greed suggests that investors may be overconfident and irrational during high market momentum. An "extreme greed" atmosphere is usually over 70. Once momentum stops, crypto markets may experience dramatic corrections due to enthusiasm exceeding reason.

[{"selector":"#anim-5760b225-bf24-4be8-83ff-a267d9e74e1f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Analysts are watching to see if Bitcoin can break its all-time high above $69K in the coming weeks near $60K. While technical and on-chain evidence suggest Bitcoin will continue its vertical ascent, investors should note that crypto markets can experience extremely volatility swings in both directions.

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