Bitcoin, the leading cryptocurrency by market cap, briefly touched the $69,000 mark on the Binance exchange, sparking discussions about a potential significant upward move.

Short-Term Surge to $69,000

Yesterday, Bitcoin climbed to $69,000 on Binance for the first time since late July. This achievement is part of an almost 9% rise this month, dubbed 'Uptober' by traders.

Trader Josh Olszewicz's Analysis

Trader Josh Olszewicz highlighted a bullish Tenkan Kijun cross on Bitcoin's three-day chart in the Ichimoku Cloud strategy, with the price above the cloud. Last year, a similar setup preceded a 155% rally.

Predictions by Mike Novogratz and Resistance Levels

According to Galaxy Digital boss Mike Novogratz, Bitcoin could reach $100,000 this year. However, the crypto king needs to break through the $73,000 resistance level for this to happen. Recently, multiple attempts to hold above $70,000 have failed, yet the reduction in US Federal Reserve interest rates might boost bullish sentiment.

Bitcoin remains in the spotlight due to recent achievements and forecasts of future growth. However, this depends on its ability to overcome key resistance levels.