Bitcoin inched closer to $36,000 in the last 24 hours, as the widening altcoin rally and risk-on sentiment in traditional markets lifted the total value of the crypto markets to a 16-month high.Bitcoin is getting closer to 36,000 in the past 24 hours. And we're also seeing kind of a an increase in an alt coin rally uh some risk on sentiment in the traditional markets trad. Um And that's helping bring overall crypto valuations up to 16 month high.
The question is, where is the net supply, net increase in money supply coming from? And there are various possibilities such as, I mean, that's the technicality in the Feds balance sheets. We saw a decrease in reverse repos which usually leads to an increase in net liquidity. That might be one of the causes. But another one that I've mentioned just recently is the fact that China has been ejecting liquidity.
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Source: CoinDesk - 🏆 291. / 63 Read more »