7 Reasons To Be Bullish On Bitcoin This Week
In an analysis shared on X, crypto analyst Patric H. from CryptelligenceX outlines seven reasons why investors should be bullish about the Bitcoin price traject
In an analysis shared on X, crypto analyst Patric H. from CryptelligenceX outlines seven reasons why investors should be bullish about the Bitcoin price trajectory this week. “How can anyone be bearish here?! BTC broke the weekly downtrend, closing above key levels, and some people still call for sub-$40k?! Sorry, bears, you clearly missed the fundamental changes of the past two weeks,” he states.
#1 Mt. Gox Bitcoin Repayment Deadline Extension
The defunct exchange Mt. Gox has filed for a change in its repayment deadline, which has been approved by the court. The new deadline to refund the remaining creditors is now set for October 31, 2025, a full year later than the previously scheduled October 2024. This extension removes the immediate market selling pressure of approximately 44,905 BTC (around $2.9 billion), which was anticipated to flood the market.
#2 China’s Economic Stimulus
China is set to issue $325 billion in bonds to stimulate its economy. Concurrently, crypto exchange OKX has…
