Bitcoin holds its ground in the tumultuous world of trading, with traders eagerly anticipating a surge towards record-breaking highs. However, the coin is facing fierce opposition, as the elusive $71,600 mark continues to elude even the most optimistic of bulls. Despite this challenge, the upward trend persists, with buyers fearlessly absorbing any selling pressure thrown their way.
BTC ends the week on a steady note, holding steady with a 6% increase. The market’s refusal to dip further is a promising sign for buyers, but it’s going to take a powerful surge to keep the momentum going. As of now, trading volume has dropped by 25%, reaching $31 billion. It seems that the weekend will be quiet, with minimal participation until the new week arrives.
The following Bitcoin news events made headlines:
The latest data reveals that in just under two months of trading, new spot Bitcoin ETFs have amassed a staggering 500,000 BTC. This unprecedented achievement is a clear indication of investors’ growing appetite for exposure to the cryptocurrency market, but with the added security and regulation of ETFs.
But while legitimate investors flock to the world of Bitcoin, cybercriminals have set their sights on a new target: Call of Duty players who resort to cheating. Shocking reports have emerged of hundreds of these gamers falling victim to BTC theft at the hands of ruthless hackers.
Bitcoin Price Analysis
The battle between BTC and USD continues to rage on, with the daily chart revealing a fascinating range-bound pattern.
Despite the unwavering confidence of buyers, the uptrend seems to be crawling at a snail’s pace.
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From a technical standpoint, the bulls are currently calling the shots. However, their dominance hinges on a decisive break above the $71,600 mark.
If the stars align and we witness a breakout with strong volume, the coin could skyrocket to an impressive $73,800, signaling a continuation of the bullish trend.
On the flip side, if immediate support at $68,400 is breached, the coin could experience a sharp decline to $62,000, leaving traders in a state of panic.