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?

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TheNewsCrypto

Ďalšie články zverejnené 19. 2. 2024

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