Bitcoin is back in bull mode, with the worldâs largest crypto up 6% in the past 24 hours.
This renewed upside has been fueled by softer-than-expected inflation data and a return of positive inflows into spot BTC ETFs.
Also benefiting from the bullishness is the presale for 99Bitcoins Token (99BTC), which has raised $1.2 million as investors flock to this new crypto education protocol.
The bulls are back in control â with Bitcoin (BTC) now trading around $66,300.
This marks Bitcoinâs highest value since late April, pushing its recovery gains to 17% from the lows tagged on May 1.
The momentum behind the coinâs latest upswing is clear.
Spot trading volumes have rocketed 78% to $43 billion over the past 24 hours, while open interest in Bitcoin derivatives has also climbed to $32 billion.
These are tell-tale signs of heightened interest and conviction from spot and leverage traders.
On-chain data reinforces the improved sentiment.
The Crypto Fear & Greed Index has ticked up to 70 today â its highest reading in almost two weeks.
From a technical perspective, Bitcoinâs next major hurdle appears to be the $67,000 resistance level, which capped its rally in late April.
However, given the strength of the current rally, Bitcoin looks well-positioned to conquer that level and potentially target $70,000 soon.
Bitcoinâs rally hasnât materialized out of thin air â several catalysts have provided the fuel for this upswing.
First, the latest U.S. inflation data came in cooler than economists expected, with the Consumer Price Index (CPI) rising just 0.3% in April versus 0.4% estimates.
This softer print has traders optimistic about potential rate cuts this year.
Although the CME FedWatch tool notes a tiny 2.9% chance of a June rate cut, this rises to a 30% chance in July.
Falling inflation, coupled with a potential drop in interest rates, is an obvious bullish catalyst for risk assets like Bitcoin.
This is made even more apparent when considering that the coin (and the crypto market in general) has withstood over a year of monetary tightening yet still managed to post a new all-time high.
Secondly, inflows into spot BTC ETFs have started turning positive again after a period of outflows.
Data shows these funds reeled in over $100 million on Tuesday and $300 million on Wednesday.
This resurgence of institutional demand is another tailwind for Bitcoinâs price.
And with both technical and fundamental factors now aligned, Bitcoinâs rally may just be getting started.
Alongside Bitcoin, another crypto asset is also seeing immense demand â 99Bitcoins Token (99BTC), which is built on the Bitcoin blockchain.
The presale for this new âLearn-to-Earnâ protocol has now raised over $1.2 million in funding.
With 99BTC tokens priced at just $0.00105 each during this early presale window, investors have been clamoring to get involved. However, that low entry price wonât last much longer.
The price per 99BTC will rise in 5 days when the presale enters its next stage, meaning investors have a limited time to secure tokens at the lowest possible rate.
But discounted tokens are just one part of 99BTCâs value proposition.
This project also offers a new model incentivizing investors to expand their crypto knowledge and skills.
Through courses, quizzes, tutorials, and community participation, users are rewarded with 99BTC payouts directly to their crypto wallets.
Itâs an ingenious concept that parallels the âPlay-to-Earnâ craze of 2021, which added billions to cryptoâs market cap.
As noted in 99Bitcoins Tokenâs whitepaper, holding 99BTC also unlocks additional benefits like trading signals, community channels, and advanced courses.
To add further legitimacy, 99Bitcoins Token has undergone a comprehensive audit by Coinsult.
This audit found no vulnerabilities in the projectâs smart contracts or architecture.
This level of security hasnât gone unnoticed â influential figures in the crypto world have begun to discuss 99Bitcoins Token.
For example, YouTuber Michael Wrubel praised the project in a video to his 310,000+ subscribers.
So, with Bitcoin regaining strength and the market looking bullish once more, 99Bitcoins Token is quickly becoming a top pick for retail investors.
Visit 99Bitcoins Token Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
The post Bitcoin Price Surges Over 6% as 99Bitcoins Token Presale Raises $1.2M appeared first on CryptoPotato.
This renewed upside has been fueled by softer-than-expected inflation data and a return of positive inflows into spot BTC ETFs.
Also benefiting from the bullishness is the presale for 99Bitcoins Token (99BTC), which has raised $1.2 million as investors flock to this new crypto education protocol.
Bitcoin Breaches $66,000 as Bullish Momentum Builds
The bulls are back in control â with Bitcoin (BTC) now trading around $66,300.
This marks Bitcoinâs highest value since late April, pushing its recovery gains to 17% from the lows tagged on May 1.
The momentum behind the coinâs latest upswing is clear.
Spot trading volumes have rocketed 78% to $43 billion over the past 24 hours, while open interest in Bitcoin derivatives has also climbed to $32 billion.
These are tell-tale signs of heightened interest and conviction from spot and leverage traders.
On-chain data reinforces the improved sentiment.
The Crypto Fear & Greed Index has ticked up to 70 today â its highest reading in almost two weeks.
From a technical perspective, Bitcoinâs next major hurdle appears to be the $67,000 resistance level, which capped its rally in late April.
However, given the strength of the current rally, Bitcoin looks well-positioned to conquer that level and potentially target $70,000 soon.
Cooling Inflation & Spot ETF Inflows Fuel Positive Sentiment for BTC
Bitcoinâs rally hasnât materialized out of thin air â several catalysts have provided the fuel for this upswing.
First, the latest U.S. inflation data came in cooler than economists expected, with the Consumer Price Index (CPI) rising just 0.3% in April versus 0.4% estimates.
This softer print has traders optimistic about potential rate cuts this year.
Although the CME FedWatch tool notes a tiny 2.9% chance of a June rate cut, this rises to a 30% chance in July.
Falling inflation, coupled with a potential drop in interest rates, is an obvious bullish catalyst for risk assets like Bitcoin.
This is made even more apparent when considering that the coin (and the crypto market in general) has withstood over a year of monetary tightening yet still managed to post a new all-time high.
Secondly, inflows into spot BTC ETFs have started turning positive again after a period of outflows.
Data shows these funds reeled in over $100 million on Tuesday and $300 million on Wednesday.
This resurgence of institutional demand is another tailwind for Bitcoinâs price.
And with both technical and fundamental factors now aligned, Bitcoinâs rally may just be getting started.
New BRC-20 Token 99BTC Draws Investor Attention & Raises $1.2M
Alongside Bitcoin, another crypto asset is also seeing immense demand â 99Bitcoins Token (99BTC), which is built on the Bitcoin blockchain.
The presale for this new âLearn-to-Earnâ protocol has now raised over $1.2 million in funding.
With 99BTC tokens priced at just $0.00105 each during this early presale window, investors have been clamoring to get involved. However, that low entry price wonât last much longer.
The price per 99BTC will rise in 5 days when the presale enters its next stage, meaning investors have a limited time to secure tokens at the lowest possible rate.
But discounted tokens are just one part of 99BTCâs value proposition.
This project also offers a new model incentivizing investors to expand their crypto knowledge and skills.
Through courses, quizzes, tutorials, and community participation, users are rewarded with 99BTC payouts directly to their crypto wallets.
Itâs an ingenious concept that parallels the âPlay-to-Earnâ craze of 2021, which added billions to cryptoâs market cap.
As noted in 99Bitcoins Tokenâs whitepaper, holding 99BTC also unlocks additional benefits like trading signals, community channels, and advanced courses.
To add further legitimacy, 99Bitcoins Token has undergone a comprehensive audit by Coinsult.
This audit found no vulnerabilities in the projectâs smart contracts or architecture.
This level of security hasnât gone unnoticed â influential figures in the crypto world have begun to discuss 99Bitcoins Token.
For example, YouTuber Michael Wrubel praised the project in a video to his 310,000+ subscribers.
So, with Bitcoin regaining strength and the market looking bullish once more, 99Bitcoins Token is quickly becoming a top pick for retail investors.
Visit 99Bitcoins Token Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
The post Bitcoin Price Surges Over 6% as 99Bitcoins Token Presale Raises $1.2M appeared first on CryptoPotato.
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