The second half of July has been notably bullish for the cryptocurrency market as Bitcoin price drove a high momentum rally. BTC recently witnessed ease from the prevailing supply pressure as the German government completed its $3.5 billion selloff and the fallen Mt. Gox exchange successfully repaid 65% of its creditors. However, the renewed demand pressure was uplifted by a significant inflow into BTC-Exchange Traded Funds (ETFs), indicating strong investor confidence.
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