BTC Back Above $65
The $65k win on the part of Bitcoin seems to have suddenly reignited the optimism in the crypto community. And it couldn’t be otherwise at a time when, as reported by IntoTheBlockI am 90% of the holders would be in profit.
The latest surge has seen BTC hit its highest since last Augustin months in which volatility has particularly affected the markets. At this point, however, few seem to expect a correction in the short term, given a “macro” situation that, as described above, would seem to favor the asset’s run.
Other tokens are also recording an increase, especially Ethereum, which has returned above $2,600seems to encourage a bullish rally in the altcoin sector as well. Likewise, Solana is back above $155 and BNB is above $600.
Bitcoin is steadily climbing, and with it, the number of holders in profit.
If $BTC breaks $65k, well over 90% of holders will be in profit; a level we last saw in July, when Bitcoin ultimately failed to reach a new high.
The question now is: will this time be different? pic.twitter.com/hs156tGzfy
— IntoTheBlock (@intotheblock) September 26, 2024
BTC To Reclaim ATH?
The conquest of the $60k followed by the US interest rate cuts seems to have been a fundamental watershed. Since then, the trend has remained bullish without any particular corrections, and now $65k could represent a significant resistance.
In the short term, the key levels should be $68k and $70k, with potential price test which could push BTC to regain its ATH.
The fact that holders are now largely in profit could impact their decisions in the short term, but not necessarily in a negative way. Compared to last July, in fact, when BTC found itself falling from $70k towards the lows of the summer, macroeconomic conditions have changed substantially.
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