White House · Bitcoin · U.S. Treasury · Donald Trump · Bitcoin Magazine
Bitcoiners have long argued that the biggest cryptocurrency can work as a hedge against government printing
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
U.S. investors last week piled back into Bitcoin exchange-traded funds; the investment vehicles had their best week since October, with nearly $2 billion in inflows.
Key facts
- It’s up over 22% over a seven-day period, and was recently trading for $78,915
- Bitcoin was trading under $65,000 for most of June and July and experiencing its lowest volatility in its 17-year history
- U.S. investors last week piled back into Bitcoin exchange-traded funds; the investment vehicles had their best week since October, with nearly $2 billion in inflows
- Bitcoin is no longer oversold but there’s still time to buy, according to Fairlead Strategies’ Katie Stockton
Summary
And the fact that Bitcoin isn't yet "overbought" is a good thing, said Stockton. Bitcoin is no longer oversold but there’s still time to buy, according to Fairlead Strategies’ Katie Stockton. Speaking on Tuesday to CNBC, the financial research firm’s managing partner said that Bitcoin cleared its 200-day moving average back in May, meaning that a potential breakout could be coming. Bitcoin started rallying last week on news that the Treasury would at least double the size of its liquidity-support buyback operations. “It’s not overbought yet, so that’s the good thing,” said Stockton.