With the third consecutive bullish day for Bitcoin, the BTC price surpasses the $59,000 mark and is quickly heading to the $60,000 milestone. With the total Bitcoin ETFs trading volume reaching the $2 billion mark, the overall strength of the crypto is rising to new levels.
Further, the upcoming halving event and the potential rate cuts are also secondary catalysts. As a magnificent “Pre-Halving Run,” the biggest crypto is up by almost 40% this month. As the uptrend continues to gain momentum, the BTC price is teasing a new all-time high before the halving.
With such a bull run in motion, the BTC price prediction of reaching the $100K mark is coming closer to reality.
Godspeed Bitcoin!
Making three consecutive bullish candles in the daily chart, the bull run in Bitcoin becomes unstoppable. With the market cap crossing the $1.1 trillion mark, the uptrend is gaining momentum.
Source: Tradingview
With the uptrend ready to challenge the $60,000 milestone, the BTC price could reach the $68,157 mark as per the trend-based Fibonacci levels. Further, with the 3.59% intraday growth reaching the $59,000 mark with a jump in intraday trading volume, Bitcoin eyes ahead. On a side note, Coinglass reports that over the last 24 hours, liquidations totalled $244.12M million, with $139 million stemming from short-order liquidations. This affected approximately 81,536 traders.
Further, the MACD indicator shows a positive crossover in the MACD and signal lines gaining space, indicating a rise in underlying bullishness.
Will The BTC Price Reach $100,000?
The potential for a prolonged high-momentum uptrend in Bitcoin is growing as recovery momentum builds. In addition to the bullish indicators mentioned, Fibonacci levels suggest a next peak possibility for Bitcoin around $96,000.
Considering the bullish breakout of the inverted head and shoulder arrives with a bullish closing above $60,000, the BTC price can skyrocket to $68,157.