Bitcoin Price Forecast: BTC Extends Rally Above $94k to Approach an Overhead Supply Zone
As Coinpedia reported, Strive announced the acquisition of Semler Scientific and its BTC stash. As such, Strive increased its BTC holdings to nearly 13k. On Monday, Strategy announced its largest BTC acquisition of around 13,627 coins, thus increasing its Bitcoin holdings to 687,410 coins.
Rising capital rotation from gold
Bitcoin price is well positioned to continue in a bullish outlook in the near term catalyzed by the rising capital rotation from gold. From a technical analysis standpoint, the Bitcoin price has historically experienced a parabolic growth after a gold top-out.
Already, Gold price has shown signs of a top out amid the macro indicators showing a prolonged overbought. On the other hand, BTC price remains heavily oversold amid the rising global money supply catalyzed by the ongoing Federal Reserve’s Quantitative Easing (QE).
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