The rebound in Bitcoin price shows the market has a more optimistic outlook in the macro environment. The market was encouraged by a more crypto-friendly U.S. administration under Trump.
BTC could reach $68k or $70k soon, with the 120-day moving average as a key indicator. Monitoring Fed policies and Mt. Gox implications is necessary.
Favorable developments like emptying wallets and Trump's pro-crypto stance are boosting bullish sentiments, overcoming recent volatility and Mt. Gox concerns.
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