Bitcoin Rises As Debasement Trades Gain Favor Amid Long-Term Holder Distribution
Bitcoin rallied 23% in a week as $1.92 billion flowed into 13 US-listed spot funds and $7.2 billion in bearish bets were liquidated, Bloomberg and Coinglass said.
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Bitcoin Rides Debasement Trade to Three-Month High Above $80,000
Bitcoin climbed to $80,000 for the first time since mid-May, as optimism returns to the long-beaten-down crypto market amid a confluence of bullish signals that forced the liquidation of billions in leveraged bets.
The phenomenon of "debasement trading," in which investment funds flow into alternative assets such as gold and Bitcoin to defend against the decline in the dollar's value caused by concerns over the U.S. fiscal deficit, is intensifying. Along with portfolio adjustments by institutional investors, demand for alternative investments in the asset market is surging.
Bitcoin has beaten stocks and gold over six months. Now it’s closing in on $80,000.
Bitcoin was rising Monday near the $80,000 level that it last touched in May, after the cryptocurrency surged last week on the Treasury Department’s plans to buy back longer-dated Treasurys.
Bitcoin Rises As Debasement Trades Gain Favor Amid Long-Term Holder Distribution
BitcoinWorld Bitcoin Rises as Debasement Trades Gain Favor Amid Long-Term Holder Distribution Bitcoin is trading higher as investors increasingly turn to debasement trades—assets that hedge against currency devaluation—while long-term holders continue to distribute their holdings, according to recent market charts. Understanding the Debasement Trade The debasement trade refers to buying assets perceived as inflation-resistant, such as Bitcoin, …
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