Overnight, we saw the crypto heavyweight break above $US57,000 for the first time since late 2021, and the current bullish momentum suggests a break of the psychological $US60,000 area isn’t far away. The important takeout by MM is that there’s still plenty of liquidity in the system looking for a home, a very bullish read-through for equities and risk assets.
- We can see Bitcoin testing/breaking the $US60,000 area over the coming weeks, a bullish read for stocks.
MM is now cautiously bullish towards Bitcoin
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