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<p>The post <a href="https://coinpedia.org/price-analysis/heres-when-bitcoin-btcprice-will-hit-new-ath/" rel="noopener noreferrer nofollow">Here’s When Bitcoin (BTC)Price Will Hit New ATH</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>After briefly rallying above $66,000 in the past two days, Bitcoin’s (BTC) price stabilized above $65k on Friday. The flagship coin has consistently traded above the 50-day Moving Average (MA), a clear indication that the bulls are in control.&nbsp;</p>
<p>Nonetheless, Bitcoin’s price is not completely out of the woods. It could retrace further below $60k before establishing a robust uptrend.</p>
<h2 class="wp-block-heading" id="h-bitcoin-wins-over-wall-street-nbsp">Bitcoin Wins Over Wall Street&nbsp;</h2>
<p>In the past year, Bitcoin price has heavily benefited from the ongoing mass adoption by institutional investors and clearer regulatory frameworks, particularly in the United States.&nbsp;</p>
<p>On Thursday, the US Senate voted overwhelmingly to overturn the SAB 121, a rule by the U.S. SEC to restrict banks from holding crypto assets.&nbsp;</p>
<p>Currently, the US President, Joe Biden, is expected to either approve or veto the legislation, which could greatly impact the upcoming presidential elections.</p>
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   <p lang="en" dir="ltr">Crypto is in the middle of a policy tug-of-war between the Administrative State and the American people.<br><br>Congress just passed the SAB 121 repeal on a bipartisan basis.<br><br>If Biden vetoes, it proves he wants to kill opportunities for Americans at the expense of Americans.</p>— Tom Emmer (@GOPMajorityWhip) <a href="https://twitter.com/GOPMajorityWhip/status/1791146133789593931?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 16, 2024</a>
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<h2 class="wp-block-heading" id="h-midterm-price-targets">Midterm Price Targets</h2>
<p>Bitcoin’s dominance, currently at around 56 percent, has continued to grind higher in recent times, thus delaying the anticipated altseason. On-chain data shows that Bitcoin whales have dramatically decreased their activities, thus increasing the likelihood of a bullish uproar in the coming weeks.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> So far, so good..!!<br><br>Bitcoin is still moving within the Bullish Flag pattern.<br><br>To confirm the Breakout, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> bulls need to clear the $68k resistance level.<br><br>Once the Breakout is confirmed, we can expect a new ATH in June. <a href="https://t.co/0fXM790tdR" rel="noopener noreferrer nofollow">https://t.co/0fXM790tdR</a> <a href="https://t.co/bXC3PZjzba" rel="noopener noreferrer nofollow">pic.twitter.com/bXC3PZjzba</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1791305596672581843?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 17, 2024</a>
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<p>According to a popular crypto analyst, Captain Faibik, Bitcoin prices must consistently close above the resistance level of around $68k in the coming weeks to validate a rising trend.&nbsp; The crypto analyst has set a Bitcoin price target of around $86,000, coinciding with the 2.618 daily Fibonacci Extension.</p>
<p>Furthermore, the crypto analyst highlighted that Bitcoin price has formed a bullish pennant since recently reaching its all-time high (ATH) of around $73k.</p>

Here’s When Bitcoin (BTC)Price Will Hit New ATH

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