- Bitcoin breaks $60K, with bullish momentum suggesting a potential rise toward $70K.
- El Salvador continues daily Bitcoin purchases, boosting its total holdings to 5,851 BTC.
After days of struggling to break the $60,000 barrier, Bitcoin [BTC] is now trading above this key level. According to the latest data from CoinMarketCap, BTC is currently priced at $63,762, reflecting a slight drop of 0.32% in the past 24 hours.
Saylor’s Bitcoin optimism
As always, Bitcoin enthusiast and MicroStrategy co-founder Michael Saylor has affirmed the cryptocurrency’s potential, commenting on its ongoing promise and growth.
“Four years on the #Bitcoin Standard, and you would have outperformed every company in the S&P 500.”
Despite short-term fluctuations, MicroStrategy’s commitment to Bitcoin has paid off, with BTC’s returns outperforming every S&P 500 company, underscoring its superior investment growth.
Source: Michael Saylor/X
What are the metrics saying?
To gauge Bitcoin’s future trajectory, AMBCrypto analyzed TradingView data and found that the Relative Strength Index (RSI) remains bullish, positioned above the neutral level at 57.
This indicates ongoing positive momentum. Additionally, the MACD line lying above the signal line, displaying green histograms, further reinforced the notion that buying pressure is currently outweighing selling pressure.
Source: Trading View
As expected the IntoThebBloack data revealed a substantial majority of BTC holders (88.31%) currently possess tokens valued above their purchase price, indicating they are “in the money.”
Conversely, only a small fraction (5.85%) hold BTC at a value lower than their purchase price, putting them “out of the money.”
This suggested that Bitcoin might be gearing up for a bull run in the coming days.
Source: IntoTheBlock
Bitcoin’s future outlook
In fact, Cathie Wood’s Ark Invest predicts that if BTC continues on this trajectory, its value could skyrocket to $1.5 million by 2030.
Adding to the fray were Jan Happel and Yann Allemann, founders of Glassnode, who confirmed that Bitcoin is well-positioned to potentially reach and test the $70,000 level again.
They caution that traders who are betting against BTC (by shorting it) when it’s around $68,000 or $69,000 could face significant losses if Bitcoin’s price continues to rise and hits $70,000, leading to forced liquidation of their positions.
Source: Negentropic/X
Additionally, El Salvador, the first country to officially adopt BTC as legal tender, has been consistently increasing its Bitcoin reserves.
Since 16 March, the Salvadoran government has been purchasing one Bitcoin daily, resulting in an additional 162 BTC added to their holdings.
As of now, El Salvador’s total BTC holdings amount to 5,851 BTC. This is valued at approximately $356.4 million based on current market prices.
Hence, as Bitcoin approaches new highs, all eyes are on whether it will break through the $66K resistance.
- Bitcoin breaks $60K, with bullish momentum suggesting a potential rise toward $70K.
- El Salvador continues daily Bitcoin purchases, boosting its total holdings to 5,851 BTC.
After days of struggling to break the $60,000 barrier, Bitcoin [BTC] is now trading above this key level. According to the latest data from CoinMarketCap, BTC is currently priced at $63,762, reflecting a slight drop of 0.32% in the past 24 hours.
Saylor’s Bitcoin optimism
As always, Bitcoin enthusiast and MicroStrategy co-founder Michael Saylor has affirmed the cryptocurrency’s potential, commenting on its ongoing promise and growth.
“Four years on the #Bitcoin Standard, and you would have outperformed every company in the S&P 500.”
Despite short-term fluctuations, MicroStrategy’s commitment to Bitcoin has paid off, with BTC’s returns outperforming every S&P 500 company, underscoring its superior investment growth.
Source: Michael Saylor/X
What are the metrics saying?
To gauge Bitcoin’s future trajectory, AMBCrypto analyzed TradingView data and found that the Relative Strength Index (RSI) remains bullish, positioned above the neutral level at 57.
This indicates ongoing positive momentum. Additionally, the MACD line lying above the signal line, displaying green histograms, further reinforced the notion that buying pressure is currently outweighing selling pressure.
Source: Trading View
As expected the IntoThebBloack data revealed a substantial majority of BTC holders (88.31%) currently possess tokens valued above their purchase price, indicating they are “in the money.”
Conversely, only a small fraction (5.85%) hold BTC at a value lower than their purchase price, putting them “out of the money.”
This suggested that Bitcoin might be gearing up for a bull run in the coming days.
Source: IntoTheBlock
Bitcoin’s future outlook
In fact, Cathie Wood’s Ark Invest predicts that if BTC continues on this trajectory, its value could skyrocket to $1.5 million by 2030.
Adding to the fray were Jan Happel and Yann Allemann, founders of Glassnode, who confirmed that Bitcoin is well-positioned to potentially reach and test the $70,000 level again.
They caution that traders who are betting against BTC (by shorting it) when it’s around $68,000 or $69,000 could face significant losses if Bitcoin’s price continues to rise and hits $70,000, leading to forced liquidation of their positions.
Source: Negentropic/X
Additionally, El Salvador, the first country to officially adopt BTC as legal tender, has been consistently increasing its Bitcoin reserves.
Since 16 March, the Salvadoran government has been purchasing one Bitcoin daily, resulting in an additional 162 BTC added to their holdings.
As of now, El Salvador’s total BTC holdings amount to 5,851 BTC. This is valued at approximately $356.4 million based on current market prices.
Hence, as Bitcoin approaches new highs, all eyes are on whether it will break through the $66K resistance.
I do agree with all the ideas you have introduced on your post They are very convincing and will definitely work Still the posts are very short for newbies May just you please prolong them a little from subsequent time Thank you for the post
can you buy cheap clomid online where to buy generic clomiphene tablets clomid prescription uk can you get generic clomid online order cheap clomiphene without prescription buying cheap clomiphene without dr prescription cheap clomid without insurance
This is the kind of topic I get high on reading.
The thoroughness in this draft is noteworthy.
zithromax buy online – metronidazole 200mg without prescription buy generic metronidazole
rybelsus price – rybelsus online order periactin 4mg drug
order domperidone online – order tetracycline 250mg for sale buy cyclobenzaprine paypal
propranolol pill – how to get inderal without a prescription methotrexate order
how to buy amoxicillin – combivent 100mcg usa ipratropium online
where to buy zithromax without a prescription – bystolic 20mg oral buy generic bystolic 20mg
augmentin pills – https://atbioinfo.com/ buy acillin online cheap
buy nexium 40mg online cheap – https://anexamate.com/ order nexium 20mg for sale
warfarin over the counter – coumamide cozaar cheap
meloxicam 7.5mg cost – swelling mobic price
buy deltasone sale – corticosteroid prednisone 5mg without prescription
online ed medications – buy generic ed pills online buy ed meds online
amoxil for sale – order amoxicillin sale buy amoxil paypal
order diflucan 100mg generic – site buy diflucan pill
buy cenforce 50mg generic – cenforce rs cenforce price
us pharmacy cialis – fast ciltad when will cialis be generic
buy zantac 150mg – on this site buy zantac 150mg online cheap
cialis professional – site tadalafil online canadian pharmacy
buy viagra nigeria – strong vpls buy generic viagra online overnight
The thoroughness in this break down is noteworthy. este sitio
I am in point of fact delighted to gleam at this blog posts which consists of tons of of use facts, thanks towards providing such data. https://buyfastonl.com/isotretinoin.html
I couldn’t weather commenting. Adequately written! https://ursxdol.com/clomid-for-sale-50-mg/
This is a keynote which is forthcoming to my verve… Diverse thanks! Unerringly where can I notice the acquaintance details in the course of questions? https://aranitidine.com/fr/acheter-cenforce/