Bitcoin is a type of money people use on the internet. It just reached a very high value, which is $63,000. This happened because big companies in the US started buying it. People think that Bitcoin might become even more valuable in the future. Read from source...

1. Biased language: The use of 'bulls and bears' in describing market participants shows a potential bias towards the stock market.

2. Lack of empirical evidence: The argument that U.S institutional investors are purchasing Bitcoin is based on observations of the Coinbase Premium Gap, but no empirical evidence is provided to substantiate this claim.

3. Lack of historical context: The article fails to provide historical context to Bitcoin's price movement, which could aid in understanding the implications of the current market condition.

4. Unbalanced presentation: The article only presents bullish triggers, but neglects to discuss bearish signals, presenting an unbalanced view of the market.

5. Failing to consider alternative explanations: The article attributes Bitcoin's recovery to specific bullish triggers, without considering alternative explanations for the price movement.

6. Incomplete analysis: The article only analyses the technical aspects of Bitcoin's price, without considering the fundamental factors that could be influencing the market.

bullish

Bitcoin has breached the $63,000 mark as institutional US investors start purchasing the digital currency. According to on-chain analytics firm, CryptoQuant, big institutional investors in the US began accumulating Bitcoin, as observed through the Coinbase Premium Gap, which is considered a measure of whale accumulation in the US. CryptoQuant also anticipates the rally to be sustained as the market moves into a new trading week.