For months, the crypto markets, spearheaded by Bitcoin (BTC), languished in a constrained and subdued trading range, lacking significant catalysts.
However, a paradigm shift unfolded in the past month, fueled by renewed optimism. The resurgence stems from mounting confidence that US regulators may greenlight the inaugural spot Bitcoin exchange-traded fund (ETF) – perhaps even before the end of 2023.
This newfound positivity propelled BTC beyond $37,000 last week, marking its first ascent above that threshold since April 2022.
Crucially, alongside this resurgence of optimism came a resurgence of liquidity, historically indicative of impending significant bull markets.
Crypto market adds $600 billion in liquidity in a year
For the first time in several years, the cryptocurrency markets are witnessing a return of “tons of new liquidity, The Kobeissi Letter, a well-known commentator of the global capital markets, said in a November 12 post on X.
According to the account, crypto h
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