The Bitcoin price rally is losing strength as the cryptocurrency returns to its support levels following weeks of bullish momentum. In the short term, the landscape seems sloped to the downside, but an analyst presented the main reasons why the rally has just begun. Related Reading: Ethereum Price Holds Ground – Indicators Suggest Fresh Surge To $2,120 As of this writing, Bitcoin (BTC) trades at $36,550 with a 2% loss in the last 24 hours. Over the previous week, the cryptocurrency recorded similar losses following the general sentiment in the market. Only Solana (SOL) preserved its gains during the same period. Behind Bitcoin’s Surge: Decoding the Four Key Factors According to a report from Deribit Insight, posted by Markus Thielen, several forces are pushing Bitcoin towards new yearly highs. These forces remain intact despite the recent price action. Among the reasons behind the current BTC price rally, the analyst included speculations around the U.S. Securities And Exchange Commission (SEC) Bitcoin Exchange Traded Fund decision, traders’ appetite for leverage, fiat inflows through stablecoins, and increased fee generation within the Bitcoi ..
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