Bitcoin (BTC): Cryptocurrency Bulls Pushing for More

Briefly-

  • BTC’s price supports bullishness as it hovers around $60,000, analysts expecting BTC to record new ATHs by next week.
  • Altcoins follows, Ethereum overpowering a bearish upper line and might hit a new ATH.
  • Meanwhile, Ripple seems to puzzle bulls, left without a decision. XRP might dip under $1.

Bitcoin had its price jumping this week. That came after sentiment shift on Thursday following global equities surged and investors turned on riskier assets such as cryptos. Bitcoin and Ethereum overpowered some critical bearish facets as XRP appears to struggle.

BTC Price Targets $60K as Bulls Fundamentals Aim ATHs

Bitcoin price gained another 9% after bulls took the leading coin 38% high over the past fourteen days. This week, Bitcoin saw some profit-booking as it neared the $60K mark. The dominant crypto encountered some challenges as global market sentiment tilts to risk-off. As market sentiment shifted 180 degrees yesterday on the stock markets, leading to gains again, top coins witness favorable conditions that might take BTC beyond $60,000 by next week.

Bitcoin bulls manage to defend $54K to limit profit-taking activities. For now, Bitcoin seems ready for more gains after reclaiming levels past $55,619 resistance. That would attract more buyers to build the momentum needed to take BTC past $60,000.

If Bitcoin rise beyond $60K, the R2 resistance will provide resistance. Remember, the monthly R2 sits beneath the $60,000. If it retests that region, the coin will see upside catalysts, news that BTC challenged $60,000 will dominate the financial space, adding more support to the bullish run. If this tailwind persists, you can expect Bitcoin to hit an ATH beyond $65,087 by the coming week.

However, if market sentiments turn bearish, Bitcoin can suffer retracements, bear consuming this week’s gains. That can see BTC retesting the price levels at $53,350. Further downswing amid multiple downtimes in the United States equity indices, bears might tighten their grip, pushing BTC to $50,000.

Also, the leading tokens in the altcoin market charted remarkable gains. Ethereum follows Bitcoin movements. Market players can expect bulls to defend levels at $3,687 before rallying to an ATH. On the other hand, XRP faced rejection against the ascending trend-line, bears riding to take the remittance crypto under $1.

Stay around for more.

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