March highs, sober risk profiles

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28 Oct 2024

March highs, sober risk profiles

Bitcoin is inching closer to all-time highs after breaking out above $70,000. The current regime of soft funding rates and soaring institutional flows offers a robust setup for continued buoyancy.

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Bitcoin back above $70k, teasing a new all-time high

Bitcoin hit four-month highs as it climbed above $70,000. All eyes are on a new all-time high after a solid weekly gain of 6%. While BTC strength remains robust, ETH lags behind as ETHBTC made new multi-year lows of 0.035 on Monday. Bitcoin’s recent move is made without major signs of froth, indicating more strength ahead. We expect market volatility leading up to and immediately follo