Bitcoin announced its biggest month-long rally on Tuesday as riskier risk reversed across the board and briefly rebounded above $ 49,000 for the first time in five days.
Bitcoin was once a 5% increase in the New York market from $ 49,331, its biggest gain since November 18. After peaking at nearly $ 69,000 in early November, Bitcoin has fallen by around 30% in the past five weeks.
Mike McGlone, a commodities expert at Bloomberg Market Research, wrote that Bitcoin could be lower in the bull market, which is as profitable as crude oil recently. He noted that Bitcoin increased its diversification strength as the largest and most significant macroeconomic commodity that increased on December 20.
“A 2% increase in Bitcoin futures on the same day the S&P 500 fell 1%,” McGlone wrote in his research, including strong support for his recent $ 45,000 increase. .