Bitcoin Nears New All-Time High Above $76,500

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin continues its battle against bearish pressure as it nears levels around $76,000, looking to possibly establish a new ATH above $76,500.

Bitcoin's Rise to New Levels

Bulls are defending interim support levels to maintain gains and target upper resistance above $77,000. However, trader confidence appears low, which might lead to a pullback in the rally.

Traders Brace for Volatility

Since Bitcoin broke out of its range, market participants have been hopeful for further movement. Many are ready to capture profits at a new ATH, potentially increasing volatility over the weekend. The order book shows significant buy orders near $75,000 and sell orders around $77,000, suggesting preparedness for both bullish and bearish shifts.

Impact of US Election on Prices

Historically, Bitcoin has shown significant price increases following US elections, such as a 100% rise in 2020. If similar patterns hold, Bitcoin's current ascent may just be starting, and the $100K milestone could be achievable soon.

Bitcoin remains within an ascending channel, and despite mixed market signals, bulls could strive to reach new highs in the coming weeks.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

Blockchain.com Plans IPO to Enter US Public Markets

Blockchain.com is reportedly preparing for an initial public offering that could raise around $500 million.

user avatarSon Min-ho

Bybit Partners with Franklin Templeton for Innovative Off-Exchange Collateral Program

Bybit partners with Franklin Templeton to allow institutional traders to use tokenized fund shares as collateral without depositing them on the exchange.

user avatarTando Nkube

BTCS Prepares for Tokenized Stocks Trading Under SEC Exemption

BTCS's Imperium unit has completed compliance work for potential trading of tokenized stocks under a new SEC exemption.

user avatarKofi Adjeman

21Shares Announces Staking Distributions for Five Crypto ETFs

21Shares has announced staking distributions for five crypto ETFs, converting on-chain validation rewards into cash payouts for investors.

user avatarNguyen Van Long

Soluna and Bitdeer Expand Bitcoin Mining Partnership

Soluna and Bitdeer are increasing their Bitcoin mining capacity at Project Kati 1 in South Texas, adding approximately 7 MW of mining equipment to reach a total of 35 MW, with completion expected in November 2023.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.