Bitcoin Approaches All-Time High Amid Strong ETF Inflows and Potential Altcoin Rally
The post Bitcoin Approaches All-Time High Amid Strong ETF Inflows and Potential Altcoin Rally appeared on BitcoinEthereumNews.com. Bitcoin has surged close to its all-time high, invigorating market bulls and drawing widespread investor interest. Key points: Bitcoin maintains recent gains, edging closer to its historic high of $109,588. BlackRock’s Bitcoin ETF experiences strong inflows, sustaining a 19-day streak of demand. Several altcoins show resilience, breaking out of significant basing patterns. Bitcoin (BTC) has made a pivotal move, crossing the significant $100,000 mark this week, a clear signal that the buying interest is robust. Traders are eager to sustain the 10% increase seen over the past week as the weekend approaches. This surge is bolstered by consistent inflows into BlackRock’s spot Bitcoin ETF (IBIT), which recently reached $1.03 billion in a notable 19-day inflow streak according to data from Farside Investors. Crypto market data daily view. Source: Coin360 This rally isn’t limited to Bitcoin; numerous altcoins are also witnessing upward movement, prompting analysts to declare the potential onset of an “altseason.” However, skepticism remains as many altcoins have yet to recover fully from previous highs. As we consider whether Bitcoin can break its all-time high and sustain its position, it’s imperative to analyze the charts of various cryptocurrencies that may show upward momentum shortly. Bitcoin Price Outlook Bitcoin is steadily approaching the all-time high of $109,588, illustrating that bulls are not rushing to take profits. BTC/USDT daily chart. Source: Cointelegraph/TradingView The recent rally has pushed the relative strength index (RSI) into overbought territory, indicating a potential consolidation or correction ahead. Expected pullbacks should find support between the $100,000 mark and the 20-day exponential moving average ($96,626). A rebound from this support zone could significantly enhance the chances of breaking above $109,588. The momentum is crucial for bulls, as the pressure mounts. Should bears try to reverse the trend, successfully pushing below the 20-day EMA could lead to a drop…
The post Bitcoin Approaches All-Time High Amid Strong ETF Inflows and Potential Altcoin Rally appeared on BitcoinEthereumNews.com.
Bitcoin has surged close to its all-time high, invigorating market bulls and drawing widespread investor interest. Key points: Bitcoin maintains recent gains, edging closer to its historic high of $109,588. BlackRock’s Bitcoin ETF experiences strong inflows, sustaining a 19-day streak of demand. Several altcoins show resilience, breaking out of significant basing patterns. Bitcoin (BTC) has made a pivotal move, crossing the significant $100,000 mark this week, a clear signal that the buying interest is robust. Traders are eager to sustain the 10% increase seen over the past week as the weekend approaches. This surge is bolstered by consistent inflows into BlackRock’s spot Bitcoin ETF (IBIT), which recently reached $1.03 billion in a notable 19-day inflow streak according to data from Farside Investors. Crypto market data daily view. Source: Coin360 This rally isn’t limited to Bitcoin; numerous altcoins are also witnessing upward movement, prompting analysts to declare the potential onset of an “altseason.” However, skepticism remains as many altcoins have yet to recover fully from previous highs. As we consider whether Bitcoin can break its all-time high and sustain its position, it’s imperative to analyze the charts of various cryptocurrencies that may show upward momentum shortly. Bitcoin Price Outlook Bitcoin is steadily approaching the all-time high of $109,588, illustrating that bulls are not rushing to take profits. BTC/USDT daily chart. Source: Cointelegraph/TradingView The recent rally has pushed the relative strength index (RSI) into overbought territory, indicating a potential consolidation or correction ahead. Expected pullbacks should find support between the $100,000 mark and the 20-day exponential moving average ($96,626). A rebound from this support zone could significantly enhance the chances of breaking above $109,588. The momentum is crucial for bulls, as the pressure mounts. Should bears try to reverse the trend, successfully pushing below the 20-day EMA could lead to a drop…
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