Bitcoin whale accumulation, chart technicals, and a declining stablecoin dominance hint at a BTC price bull run ahead.
Bitcoin’s (BTC) price has climbed 55% so far in 2024, including 12.50% gains in October. Its recent increases have been fueled by an overall improving risk-on sentiment led by better-than-expected Wall Street earnings.
BTC/USD daily price chart. Source: TradingView
Additionally, investors are increasingly pricing in potential Federal Reserve rate cuts in November, with pro-crypto Donald Trump’s rising odds of winning the 2024 presidential election furthering the optimism.
