Bitcoin (BTC-USD) is on the rise these past few days, nearing $63,000 in Monday’s session. Jared Blikre joins the Morning Brief team to break down the movements in the crypto space following the assassination attempt on former President Trump at a rally in Butler, Pennsylvania on Saturday.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Luke Carberry Mogan.
Video Transcript
We’re gonna get to the real good stuff with Yahoo Finance’s very own Jared Blicker for a look at what’s moving this morning.
Hey, Jared.
Hey, Matty.
The real good stuff.
Bitcoin.
We got a broad risk on rally.
So I thought we’d take a look at what’s happening in crypto land because, uh, positive development here.
Uh, Bitcoin Not only is it up 5% that’s the best day in a few months, but it is crossed back above 60,000.
So let me just show you our year to day chart that I’ve been tracking for months here.
And you can see we were in this consolidation.
We broke down one time.
It was a false breakdown.
And then we headed a bit lower, and we remember the events that led to that.
A lot of people are saying it is the German authorities over there releasing 50,000 Bitcoin that were confiscated, and this kind of flooded the market.
But the good news is we saw a billion dollars over a billion dollars in ETF buying from these from ETF from spot Bitcoin ETF.
And as the world awaits for the spot ether TF, I should add It looks like the SEC has gone quiet, so it may not be this week.
That’s what it was looking like last week that it would be.
This week may not be this week, but back to the main point here, we got Bitcoin above 60,000.
And let me just show you the catalyst over the weekend on the assassination attempt on President Trump or former President Trump.
We did see this move up here, and that was kind of critical.
And let me put my five day chart.
It was critical because it passed an important price threshold.
So let me see that we got a four day chart and finally here we go, was able to push it above 60,000, got through the next day and then pushed above So some positive developments for Bitcoin.
But the rubber doesn’t really meet the road until we get back up to about 73.
74,000, and then you got to break through those highs.
All right, Jared.
Excellent stuff there.
Teaming up today’s and this week’s market activity.
Appreciate it, Jared