In crypto, you always have that lingering feeling that a rug pull is right around the corner and that big gains are about to evaporate. There were fears about a ‘sell the fact’ move in bitcoin after the election and I’m sure those haven’t gone away but the strong finish today is promising.
Bitcoin is up 9.5% and has found bids on every dip.
Bitcoin is also a remarkably technical asset and if it can hold this break above $72K (maybe into the weekend)? Then there is a good case for a move into the $90s. There is no doubt that a Trump administration is much more inclined to ease the regulatory burden in crypto and ethereum is modestly outperforming bitcoin on the assumption that an ETF is a done deal (I think it was done deal either way).
This article was written by Adam Button at www.forexlive.com.
