Bitcoin's recent price surge has been driven by a lighter-than-expected inflation report, which has increased risk appetite among investors. This positive sentiment has helped Bitcoin rebound above the $97,000 mark, contributing to a broader recovery in risk assets. Additionally, comments from SEC Chairman Gary Gensler, who likened Bitcoin's potential long-term value to gold, have further bolstered investor confidence. Gensler's acknowledgment of Bitcoin's global appeal and its speculative nature has reinforced its enduring presence in the financial landscape, encouraging renewed interest in the cryptocurrency.
The 2x Bitcoin Strategy ETF (BITX) has experienced a notable increase, rising 6.82% to $54.70 as of 2:20 PM on Tuesday, January 14.