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Analysis of the Reasons Behind the Significant Rise in Bitcoin Prices
Recently, the Bitcoin market has experienced a significant pump, mainly driven by the following three key factors:
1. Institutional Strategic Increase
The well-known institution Metaplanet has again purchased 330 Bitcoins (BTC), worth over 28 million USD. This move by large institutions not only increases market demand but also releases positive signals, attracting many investors to follow suit, driving the price of Bitcoin up.
2. The impact of the US stock market correlation
The S&P 500 index in the US stock market rose before the market opened. As a key global financial indicator, its rise has boosted investor optimism, leading to capital flowing into the cryptocurrency market. Bitcoin, favored for its core position, has seen its price supported and rise.
3. Spot ETF capital inflow
Yesterday, the net inflow of Bitcoin spot ETF was $106 million. The influx of new funds has increased market purchasing power and attention, attracting more investors and driving up the price of Bitcoin.