Recent data shows a renewed wave of interest in Bitcoin, breaking through the key level of $120,000, which led to a rise not only for the cryptocurrency itself but also for other altcoins like Ethereum.
Unusual Achievements of Bitcoin
Bitcoin successfully surpassed the $120,000 mark, considered an important technical threshold. Data from Glassnode indicates that the current positions of short-term BTC holders are profitable, exceeding the average cost basis by one standard deviation.
Market Reactions of Altcoins
On the wave of Bitcoin's growth, various altcoins, including Ethereum, also showed significant changes, although they continue to remain below their historical highs. This underscores Bitcoin's influence on the overall direction of the cryptocurrency market.
Predictions and Key Levels
Analysts suggest that if the current bullish trend holds, Bitcoin's next significant resistance level could be found at $136,000, corresponding to the range above two standard deviations. These levels have historically capped previous bullish trends.
The situation in the cryptocurrency market continues to evolve, and as interest in Bitcoin increases, it is crucial to monitor its movement towards the new price target of $136,000.
