Bitcoin records $90,000 as optimism returns to the digital currency market
The price of Bitcoin rose in Asian trading, today, Monday, to exceed 90 thousand Stocksto record levels.
The world’s most widely traded digital currency rose as much as 3.1% to exceed $90,200 in Singapore on Monday, according to "Bloomberg". Other digital currencies also witnessed a noticeable rise, as the value of Ethereum rose by up to 4% to exceed $3,000.
The price of Bitcoin was not significantly affected by the rise in the index. "Standard & Poor’s 500" to a record high when it closed just before Christmas. The broader digital currency market is still suffering from the effects of a weeks-long sell-off, which began last October with the liquidation of leveraged financial positions worth $19 billion.
Those losses led to a sharp decline in the market, as traders refrained from betting strongly on its recovery since then. Now, there are signs of a change in the public mood.
Bitcoin’s funding rate – a key measure of sentiment has reached Cryptocurrencies – to their highest level since October 18, according to data "Crypto Quant"indicating increasing demand for bullish bets in the futures market.
Despite increasing institutional adoption of cryptocurrencies, and a series of political gains during the era of pro-cryptocurrency US President Donald Trump, the price of Bitcoin will decline by about 4% in 2025.
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