Bitcoin Sets New All-Time High on Heels of OTC Buying Frenzy

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Bitcoin and the aggregated cryptocurrency market are caught within another leg higher, with bulls staying in full control of the market This uptrend comes shortly after an intense selloff seen yesterday evening, which came as a result of incredibly high funding rates on margin trading platforms The move lower reset these funding rates and cleared out “late longs” – which laid the groundwork for a move higher One analyst explained in a recent tweet that this push higher comes close on the heels of a flurry of OTC buying activity This is a bullish sign that indicates large buyers are still jumping into Bitcoin despite its relatively high prices Bitcoin and the aggregated cryptocurrency market have been caught within the throes of another uptrend, with Bitcoin rallying past $40,000 while the rest of the market follows close on its tracks. This intense upswing is simply an extension of the momentum…

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