Bitcoin

<ul> 
 <li>Bitcoin (BTC) is attempting to break the crucial $55,000.</li> 
 <li>Currently, BTC is trading at $52,190 with a market cap exceeding $1.02 trillion.</li> 
</ul> 
Today, Bitcoin’s (BTC) price is attempting a fresh surge above the $52,000 resistance mark, showing a 1.82% increase to trade at $52,295, with a market cap exceeding $1.02 trillion. This surge comes after Bitcoin rallied above $52,900 last week, marking its highest point in 26 months. Currently, BTC trading between $51,500 and $52,500 hints at possible additional upward momentum.&nbsp;The question is, will the bull run continue? 
The largest cryptocurrency has seen a 12% increase over the past week, continuing its steady climb from $38,500 at the end of January. This rally coincides with <a href="https://thenewscrypto.com/blackrocks-bitcoin-etf-dominates-market-with-record-inflows/" target="_blank" rel="noreferrer noopener">substantial inflows</a> into U.S. spot bitcoin exchange-traded funds (ETF), notably with BlackRock’s IBIT accumulating over 28,000 bitcoins last week. 
Further, open interest in Bitcoin has soared to a new 3-year high of $23.72 billion as of February 19, indicating a <a href="https://thenewscrypto.com/coinbase-contributes-3-6m-to-boost-bitcoin-developer-funding-via-brink/" target="_blank" rel="noreferrer noopener">bullish sentiment</a> among investors. This figure represents a substantial increase of around $6 billion since the beginning of February, consistently surpassing expectations for three consecutive trading days. 
<h3 class="wp-block-heading" id="h-bitcoin-btc-next-target">Bitcoin (BTC) Next Target</h3> 
The $52,000 area represents a significant resistance level on long-term charts that played a crucial role in the attainment of BTC’s all-time high prices in September and December of 2021. 
Current trends suggest stiff resistance around the $53,700 mark; overcoming this level could propel Bitcoin toward a retest of the $54,200 territory. The bulls’ <a href="https://thenewscrypto.com/bitcoin-whales-bullish-amid-mining-difficulty-surpasses-ath/" target="_blank" rel="noreferrer noopener">next target</a> could be $56,150, with a decisive move above this resistance potentially propelling the price toward the $58,300 resistance level. Further, the potential for another leg-up towards $60,000 hinges on the resumption of trends in Bitcoin ETFs. 
Conversely, if BTC fails to breach $53,000, it may witness a sharp downswing below $48,000, signaling potential bearish control over the markets. Moreover, this scenario appears unlikely given the significant support around the $45,500 territory.

Can Bitcoin (BTC) Surge Past $60k This Week?

Tabla de contenidos

TheNewsCrypto

Otros artículos publicados el 19 feb 2024

Binance Coin (BNB) and Uniswap (UNI) move into DeeStream (DST) as markets begin to plateau

Forbes Bought Land in The Sandbox Metaverse

Coinbase Records Over $1B Bitcoin (BTC) In Hours, What Happened?

Artificial Intelligence Drives Cryptocurrency Price Surges

Your Guide to 7 Promising Altcoins in the Wake of Bitcoin’s $51,500 Rally

ARK Invest Cashes In on Coinbase’s Recent Success

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!