Bitcoin price spikes 5% to $13.5K shortly after ECB stimulus announcement

The price of Bitcoin (BTC) increased from $12,920 to $13,600 in four hours, recording a 5% rally. The uptrend coincides with positive developments from the European Central Bank, or ECB, and optimistic job data from the United States.

BTC/USD 1-hour chart. Source: TradingView.com

Macro factors favor Bitcoin rally

Throughout the past week, BTC has continuously rallied despite negative macro factors. The U.S. stock market was in a steep decline, and the number of COVID-19 cases across the U.S….


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