BlockBeats news recently reported that according to Matrixport’s weekly report released on November 15th, Bitcoin is on the rise due to several positive factors. The inflow of Bitcoin spot ETF funds, the anticipation of a Federal Reserve interest rate cut, and improvements in the regulatory environment are driving Bitcoin’s growth.
The report highlights key events in December that could further attract institutional investors, such as MicroStrategy’s potential inclusion in the S&P 500 Index, Microsoft’s Bitcoin investment proposal review, and the implementation of FASB’s new regulations regarding cryptoassets. Looking ahead to 2025, the report predicts that crypto asset penetration will surpass the 8% threshold, with factors like improved regulations under Trump’s presidency and FTX’s return of $16.5 billion in creditor funds continuing to benefit the Bitcoin market.
However, the report also cautions that the RSI indicator currently shows overbought conditions and consolidation is likely in the short term.
