cryptoupdate
Contributor
Since the past few weeks, Bitcoin charts are undergoing a strong positive rally, inciting a positive sentiment in the entire crypto market.
As per the experts, the main reason behind this Bitcoin rally is the increased liquidity in the American markets after the government’s proactivity to support the banking sector in the country.Morgan Stanley has released a research report suggesting that while the recent rally of Bitcoin (BTC) is partly due to expectations of increased U.S. dollar liquidity, there are other factors contributing to the cryptocurrency's performance. BTC has gained 69% year-to-date, but trading order book liquidity is reportedly at the lowest level in a year, which means that lower trading volumes can drive larger price movements. The report notes that traders on Binance are now responsible for setting the daily price of BTC with the exchange’s share of trading volume reaching 80%...read more
