Bitcoin soared 9.5% Wednesday, marking its largest single-day gain since October.
nalysts predict further upward momentum, potentially pushing Bitcoin into six figures.
Market-neutral strategies like cash and carry yield 14% annually, exceeding U.S. Treasury returns.
The surge is attributed to Wall Street's embrace of spot-based Bitcoin ETFs.
CoinDesk 20 Index rose over 10% this week, reflecting broader market optimism.
Forecasts project Bitcoin reaching $100,000-$120,000 by Q4 2024
Passive demand from ETF investors contributes to Bitcoin's perceived store of value.
Technical analysis suggests a potential peak of $200,000 by September 2025.
This strategy capitalizes on price disparities between spot and futures markets.
Glassnode reports a 14% yield on Bitcoin cash and carry, attracting investor interest.
The allure of higher returns could drive increased investment in the crypto market.
The allure of higher returns could drive increased investment in the crypto market.
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Bitcoin Upcoming Trend Analysis 2024
Bitcoin Upcoming Trend Analysis 2024