Bitcoin has rallied more than 37% since the beginning of 2023 and is on pace for its best monthly return since October 2021.
Analysts have pointed to the weakening dollar, inflation expectations, and institutional buying support catalyzing this rally.
The fading impact from squeezed short positions, as well as troubled firms needing to cash in their profits on bitcoin, make $25,000 the next key price level to watch.
Currently changing hands at $23,000, bitcoin (BTC-USD) is trading at its…
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