A lot of bullish news for bitcoin and we are taking a bite. The Fed added $26B to their balance sheet over the past week for a total of $7.177T. This is a new all-time high.
For weeks, we’ve been discussing the strength of BTC fundamentals (hash rate ATHs anyone?) in the context of sideways prices. It seems, however, that the last few days have finally seen a major move.
It started on Monday/Tuesday, as Bitcoin crept towards and finally punched over $12,000 but really accelerated on Wednesday as it leaped up all the way over $13,000, blasting past the previous August high of ~$12,400.
So, what’s going on?