bullish

Jerome Powell

Bitcoin

<p>July and August weren’t particularly favorable for Bitcoin. Far from its all-time high reached last March, the leading cryptocurrency seems to be heading towards a new peak. Currently, Bitcoin is stabilizing around $64,000, after hitting lows close to $49,000. This $64,000 mark represents a crucial threshold for a potential rebound towards $68,000, putting Bitcoin within reach of its all-time high of $73,679.</p>
<h2 id="h-bitcoin-vers-une-percee-a-68-000">Bitcoin: Heading for a Breakthrough to $68,000?</h2>
<p>A bitcoin below $60,000 represents a <a href="https://www.cointribune.com/en/bitcoin-below-60000-is-it-the-ideal-time-to-buy/" target="_blank" rel="noopener noreferrer nofollow">good time to buy</a>. But since August 23, Bitcoin has crossed <strong>the $64,000 mark for the first time in 20 days</strong>, giving hope to investors. Unfortunately, this breakthrough was short-lived, with bitcoin quickly returning to around $63,500.</p>
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<p>This return to <strong>critical resistance levels</strong> reveals persistent instability.&nbsp;</p>
<p>Traders and analysts are therefore on alert, hoping for a decisive breakout to initiate <a href="https://icogemhunters.com/bitcoin-struggles-at-64k-could-a-breakout-to-68k-be-imminent/" target="_blank" rel="noopener noreferrer nofollow">a swift rise towards $68,000</a>. This scenario is supported by technical analysis showing a <strong>similar momentum to previous increases</strong> after crossing key levels.&nbsp;</p> 
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<p>If this threshold is maintained, bitcoin could approach its all-time high. According to Mister Crypto, “<em> a decisive crossing of $64,000 could signal a rally towards $68,000 </em>$”.</p>
<p>Key figures to watch:</p>
<ul>
 <li>$64,000: Critical resistance level;</li>
 <li>$68,000: Immediate target;</li>
 <li>$73,679: All-time high.</li>
</ul>
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<h2 id="h-la-reaction-du-marche-crypto-et-les-perspectives">Crypto Market Reaction and Outlook</h2>
<p>The market’s enthusiasm has been amplified by recent accommodative statements from Jerome Powell, Chairman of the Federal Reserve. His comments on <strong>possible rate cuts</strong> have boosted investor confidence, contributing to Bitcoin’s bullish momentum.&nbsp;</p>
<p>Meanwhile, Bitcoin’s Relative Strength Index (RSI), currently at 66.11, indicates that <strong>the market is not yet overbought</strong>.&nbsp;</p>
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<p>In comparison, at the March peak, the RSI was at 79.79, suggesting there is still room for growth before reaching an overheat zone.</p>
<p>Nevertheless, analysts warn of <strong>potential volatility over the weekend</strong>, with likely consolidation around current levels. Bitcoin’s ability to maintain its momentum will depend on its capacity to break and stabilize above these critical thresholds.</p>
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<p>All in all, the Jackson Hole meeting was a turning point for Bitcoin: Jerome Powell <a href="https://www.cointribune.com/en/bitcoin-the-fed-paves-the-way-for-100000/" target="_blank" rel="noopener noreferrer nofollow">opened the way to $100,000</a>.</p>

Bitcoin: Can it break through $68,000 soon?

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