Here below are simple reasons why Bitcoin is rising these days.

1. The percentage of Bitcoin’s supply that has remained unmoved for over a year has continued to increase, reaching a record high of 70% in late November.

2. The Fed has turned dovish, Bitcoin’s supply looks very tight ahead of the halving, and investors are looking ahead to the potential of both a spot Bitcoin ETF approval and contentious presidential election next year in the United States. – Zach Pandl

3. Alongside hopes that a Bitcoin ETF would usher in fresh crypto investment, tokens have also been buoyed by an improving macroeconomic backdrop amid expectations that the Federal Reserve will cut interest rates multiple times next year.

4. Lower rates—and falling Treasury yields—tend to benefit riskier bets like Bitcoin the most, since higher returns on cash or risk-free government debt lures investors away from the riskiest plays.

5. However, perhaps the most important factor squeezing Bitcoin prices higher is the supply and demand dynamic—the only truly fundamental basis on which to analyze the token.

Source: https://www.barrons.com