Bitcoin

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<p>Bitcoin recently crossed a crucial threshold by surpassing $69,000. This progression, supported by a series of positive news, comes after a prolonged period of consolidation. As the queen of cryptos seems to be gearing up for new bullish attempts, this recent rise raises questions about its sustainability and the accompanying risks.</p>
<h2 id="h-le-bitcoin-remonte-la-pente">Bitcoin Bounces Back</h2>
<p><a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> reached $69,000, a significant milestone that comes after a series of attempts to break out of its long-standing consolidation. This rise was supported by a series of positive news throughout the week.</p>
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<p>Despite this surge, market volatility remains palpable. Bitcoin appears to be preparing for another bullish attempt after a slight drop of three to four days. Investors remain attentive, ready to react based on closures above the key level of $67,900.</p>
<p>The situation of altcoins remains relatively stable, with some notable performances. Ethereum, the largest altcoin by market capitalization, saw its price increase by 20% in a week, surpassing $3,700. Among the top 100 cryptocurrencies, PEPE Coin stood out with a rise of over 57%, reaching a new all-time high. Conversely, some altcoins like AR, AKT, FTM, JUP, ORDI, and TRX recorded drops ranging from 7% to 14%.</p>
<h2 id="h-le-bitcoin-hors-de-la-zone-de-danger-mais-jusqu-a-quand">Bitcoin Out of the “Danger Zone,” But For How Long?</h2>
<p>According to Rekt Capital, a renowned crypto analyst, Bitcoin has recently escaped what he calls the “post-halving danger zone,” a critical period where the cryptocurrency tends to experience significant drops after the halving of mining rewards. Rekt Capital <a href="https://dailyhodl.com/2024/05/25/bitcoin-is-currently-out-of-the-danger-zone-according-to-crypto-analyst-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">explains that</a>, although this danger phase has passed, Bitcoin could still experience a correction of around 13% from its current value. “Since the end of the post-halving danger zone, Bitcoin reached $71,500. However, this level represents significant resistance in the macro reaccumulation range, leading to a price rejection,” he explains.</p>
<p>The analyst points out that, historically, Bitcoin always rejects the first breakout attempt after a halving. This reaccumulation phase could last up to 160 days after the halving, which means the cryptocurrency might not cross the $70,000 threshold before September 2024. “Consolidation should continue for several weeks, oscillating between $60,000 and $70,000,” adds Rekt Capital.</p>
<p>While history shows that the path to new highs is fraught with obstacles, Bitcoin’s recent rise to $69,000 and its exit from the <a href="https://www.cointribune.com/bitcoin-btc-quest-ce-que-le-halving-2/" target="_blank" rel="noopener noreferrer nofollow">post-halving “danger zone”</a> are encouraging developments. Still, caution is warranted!</p>

Why is the $69,000 Bitcoin not out of danger yet?

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