The bulls are pouring money into the crypto markets, which has resulted in Bitcoin reaching its all-time high price.
After Bitcoin achieved a new all-time high of $67,500 yesterday, the tone throughout the crypto markets is unusually upbeat and bullish.
It all started this month when we saw the first big rise towards $50K, the psychological threshold that the bulls cleared in just five days.
You may recall that we wrote an article headlined “Is Bitcoin Heading for a New ATH?” based on a significant study released by BofA, one of the world’s largest banks. Digital assets cannot be ignored, according to Bank of America, and their potential in the financial industry must be recognized.
Even more major developments, like the SEC’s approval of the first Bitcoin ETF, have occurred over time, and it has been increasingly obvious that the new ATH was within reach.
When it comes to technical analysis, one of the biggest shocks was that we could avoid the continuously troublesome reversal zone in the $58,200 – $62,000 area this time around. Following that, we were to the new ATH in less than 24 hours.
What may we anticipate in the next few days?
Bitcoin appears to be forming a $64K support zone, from which it has often rebounded. As a result, we believe that BTC has yet to see large sales in this price range, which might signal future growth.
If BTC can hold over $64K for more than 48 hours, it will likely try to break above the $70K barrier.