Bitcoin's price has recently rebounded by more than 19% from a two-month low, reaching approximately $67,270 on May 20. The surge has been driven by cooling inflation and ETF inflows. However, a potential sharp correction in the coming days is possible based on technical analysis. Tether has also minted $1 billion, increasing overall liquidity and potentially leading Bitcoin to new all-time highs. The Bitcoin NUPL metric suggests cautious upside sentiment, but a declining NUPL could indicate upcoming corrections.
Keyword: Bitcoin price, rebound, correction, inflation, ETF, Tether, USDT, NUPL metric, liquidity, all-time highs
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Last edited on: May 20, 2024 at 08:33 pm