Why is Bitcoin & Crypto Market Rising Today

As a seasoned crypto investor with a knack for reading market trends, I find myself quite optimistic about the near future of our digital assets. The recent surge in market capitalization is a clear sign of institutional and whale accumulation, which often precedes significant price increases.


Starting from the August 5 low point, various indicators are pointing towards increased purchasing by institutions and large investors. In just the last seven days, the total market value of cryptocurrencies has climbed significantly, moving from nearly $2.0 trillion to $2.2 trillion. This rapid rise suggests a robust recovery for Bitcoin (BTC) and other alternative coins.

Looking at the immediate future for Bitcoin’s market structure, it seems poised to maintain an upward trend. However, as we consider the medium-to-long term, the picture becomes a bit more nuanced because of potential future events that could significantly influence the cryptocurrency market and potentially move prices in various directions.

Crypto Market Events This week

Here are two major crypto market events that could heighten volatility. 

    The US Consumer Price Index (CPI) on Thursday will play a pivotal role in affecting the bias for BTC in the short term. It will also set the tone for the US Federal Reserve’s highly-anticipated interest decision in September.  
  • The estimated date for the FTX Repayment Process Voting could occur on Friday and can impact crypto markets as creditors are set to receive $12.7 billion.

As an analyst, I find the July inflation data to be a significant macroeconomic occurrence, shaping investment strategies substantially. While there’s a slight chance that inflation may exceed expectations, investors don’t anticipate drastic alterations in the Federal Reserve’s decision for September. In this scenario, Bitcoin price projections suggest that the recovery rally might persist.

If inflation levels decrease, causing worries about a potential economic downturn, this situation might lead to a drop in Bitcoin’s price as well.

Bitcoin Price Likely To Remain Bullish This Week

As a researcher studying cryptocurrency trends, my analysis of historical data over the past year reveals some interesting patterns. Specifically, it appears that Mondays, Wednesdays, Saturdays, and Sundays have yielded net positive returns for investors in the crypto market. This suggests that these days could be opportune times to book profits. Conversely, Tuesdays have presented the best opportunities to capitalize on dips in Bitcoin and other altcoins.

Why is Bitcoin & Crypto Market Rising Today

Three Events Could Shape Crypto Market Outlook In Long Run

As a researcher delving into the intricacies of the cryptocurrency market, I’ve observed that the U.S. Consumer Price Index (CPI) and daily average returns might introduce short-term biases. However, it’s essential to keep an eye on three significant events that could shape crypto investing trends substantially in the forthcoming months.

  1. FTX Creditors: The $12 billion in cash distribution to FTX creditors is liquidity that could flow back into the crypto markets, improving the odds of continuing the bull rally. 
  2. US Presidential Elections: Donald Trump’s win could catalyze pro-crypto regulation, but the odds have turned in Kamala Hariss’ favor, which could be a major hurdle to Bitcoin’s bull run.
  3. Fed’s September Rate Cut Decision: The September rate cut is highly anticipated and could make or break the crypto market bull run.

“According to Alex Thorn and Gabe Parker of Galaxy Digital, if Democrats become less firm in their stance towards cryptocurrencies, it might disrupt the connection between a potential Trump victory and the value of Bitcoin relative to the US dollar (BTCUSD). They added that although a softer Democratic stand on crypto could be beneficial for the crypto market, broader economic issues and actions taken by governments regarding cryptocurrencies are potential threats that may drive down the price of Bitcoin and other digital currencies.”

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2024-08-14 14:32