The Bitcoin price has started the week on a positive note, after witnessing downturn momentum on Tuesday, May 7. Notably, the price of the largest crypto by market, along with several other major altcoins, has gone through a tumultuous road in recent weeks due to a flurry of reasons. For instance, the significant outflow from the U.S. Spot Bitcoin ETF has weighed on the sentiments.
So, let’s take a look at the factors that have so far impacted the Bitcoin price, and how it may perform in the long term.
Factors Impacting Bitcoin Price:
The Bitcoin price was largely impacted this year due to U.S. Spot Bitcoin ETF approval, the Fed’s policy rate stance, and the Bitcoin Halving. Here we take a quick recap of the year.
Bitcoin ETF Hype
The Bitcoin price has noted positive trading since last year, as investors were anticipating the Bitcoin ETF. Notably, the approval of the U.S. Spot Bitcoin ETF in January has bolstered investors’ confidence. In addition, the positive
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