Bitcoin (BTC), the dominant cryptocurrency, has made history by briefly breaking its consolidation phase and reaching an all-time high of $70,000. Despite encountering resistance near this level, Bitcoin’s market capitalization has reached $1.3 trillion, showcasing its continued upward momentum. However, as the cryptocurrency faces a double top in the same price zone after almost three years, it must overcome a significant hurdle to consolidate above $69,000 and pave the way for further price gains. Related Reading: Here’s How Much Elon Musk’s Tesla And SpaceX Have Made From Their Bitcoin Holdings Bitcoin Sets New Record In the past 24 hours, Bitcoin experienced a 2% uptrend, propelling it to breach the $70,000 milestone for the first time. The cryptocurrency had previously reached $69,300 on Tuesday, indicating the growing strength of its upward trajectory. However, the $69,000 mark has proven to be a formidable resistance level, leading to increased volatility once breached. The double-top formation in this price zone over a three-year period adds further complexity to Bitcoin’s consolidation efforts. Breaking through this resistance is crucial for Bitcoin to establish a solid foundation ..
Support the originator by clicking the read the rest link below.
