Overview

Click to expand overview
Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff Bitcoin (BTC) has reclaimed the $71,000 level for the first time since June of this year. The asset is up 4.9% in the daily charts, 5.6% in the weekly charts, 8.2% in the 14 Bitcoin’s price broke out from a long-term parallel channel and has nearly reached a new all-time high. Long-term indicators give a bullish signal that previously triggered Bitcoin price has formed a new all-time high, crossing into the $71,000 zone. The rally, however, is still ongoing at the time of writing. In six days, the world’s biggest The Monday rally in Bitcoin price pushed it to revisit the $71,000 hurdle, leaving investors wondering if it will keep rising. This outlook comes due to BTC’s eight-month However, the bullish momentum suggests that Bitcoin may consolidate above $70,000, paving the way for a potential retest of the next resistance at $71,300 and a potential climb towards its all Bitcoin surpasses $71,000 after recovering from a dip below $65,000, sparking discussions about its future trajectory and the possibility of further increases. (SPA) Bitcoin hit another new all-time high just above $71,000 on Monday. This is the fourth time the cryptocurrency has broken its own record in a week. Breaking the $71,000

Bitcoin Reclaims $71,000: Will BTC Hit a New Peak This Week?

Bitcoin (BTC) is back in the game! After recovering from a dip below $65,000, Bitcoin has reclaimed the $71,000 level for the first time since June, sparking intense discussions about its future trajectory. Bitcoin rose to its highest level on record recently, eclipsing the previous high. This resurgence has investors and analysts alike asking: will Bitcoin break through and establish a new all-time high this week?

The Monday rally in Bitcoin price pushed it to revisit the $71,000 hurdle, leaving investors wondering if it will keep rising. The asset is up significantly across various timeframes, suggesting strong bullish momentum. Bitcoin surpassed $71,000, breaking past a key resistance point. Bitcoin’s price broke out from a long-term parallel channel and has nearly reached a new all-time high. Long-term indicators give a bullish signal.

While the rally is ongoing, some analysts suggest that Bitcoin may consolidate above $70,000 first, paving the way for a potential retest of the next resistance around $71,300. This outlook comes due to BTC’s eight-month trend. The recent price action marks the fourth time the cryptocurrency has broken its own record recently. The question is: will this momentum carry it further?

Key factors driving Bitcoin's recent surge include improving risk sentiment and continued institutional interest. Some suggest a potential climb towards its all time high. However, remember that the cryptocurrency market is inherently volatile, and past performance is not indicative of future results. Stay informed and trade responsibly.

Keep checking back for updates on Bitcoin's price and potential new all-time highs this week!

Top Sources

Related Articles