Analysts Think Bitcoin Is Rallying Due to Market Pricing in “Stimulus Buffet”

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Bitcoin is up around $200 in the past 24 hours as it now trades at $11,100. This is the highest price the cryptocurrency has traded at in many days and weeks. The leading cryptocurrency is purportedly moving higher on expectations of further stimulus and a potential Democratic-leaning election. There are also on-chain factors likely driving Bitcoin higher, analysts say. The leading cryptocurrency is moving above key resistance levels as of this article’s writing. Why Bitcoin Is Rallying Now And Expected to Rally Further Bitcoin is up $200 in the past 24 hours, pushing above $11,000. According to analysts, the market may be moving higher on expectations of a Democratic-leaning election and a stimulus buffet that may take place to stimulate the economy. “Dollar getting shredded (EURUSD in blue). BTCUSD (purple) up, XAUUSD up. Market pricing in Democrat sweep and a stimulus buffet.” Chart of BTC's price action over the past…

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