$Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, has surged past the $70,000 mark for the first time in months, reigniting bullish sentiment across global markets.
The latest rally comes amid growing institutional adoption and expectations of favorable regulatory developments in key markets like the United States and Europe. Analysts point to increasing inflows into Bitcoin ETFs and a renewed appetite from retail investors as major factors behind the price surge.
"Bitcoin is once again proving its resilience," said crypto analyst Jordan Lee. "With macroeconomic uncertainty and increasing distrust in traditional banking systems, BTC's appeal as a store of value is strengthening."
As of 12:00 PM UTC, Bitcoin was trading at $70,350, up 6.5% over the past 24 hours, with total crypto market capitalization nearing $2.8 trillion.
Many traders and investors are now watching closely to see if Bitcoin can sustain momentum and break its all-time high of $74,000, set earlier this year.
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This Week's Focus: 4/30 US Core PCE Data (Expected 2.6%) 5/1 Bank of Japan Interest Rate Decision 5/2 US Non-Farm Data Upcoming🔓 Large Unlocks: OP: 4/30 Unlocking $24.32 million (Accounted for 1.89% of circulation) SUI: 5/1 Unlocking $259 million (Accounted for 2.28% of circulation) ENA: 5/2 Unlocking $13.98 million (Accounted for 0.73% of circulation)
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Buy a coin on dips $RENDER Daily level double bottom formation, break resistance and retest the neckline position, after adjustment continue to be bullish, target in the green circle Fibonacci take profit level in the image.
#BTC Bitcoin’s current price is trading well above the average of all historical prices (cummean × 4.5), reflecting strong bullish sentiment across the market. Such significant deviations are often monitored by traders and investors to gauge the sustainability of the current trend and to anticipate potential corrections or continuations.
The price is currently testing the resistance area. We will see if it can break above this level. If it does break through the resistance, it will indicate a bullish trend and the upward movement will continue. However, if the price is rejected at this point, it will likely fall back to the support zone.