Crypto Prediction: Bitcoin (BTC)
Bitcoin stands out for its pioneering role in defining the concept of cryptocurrencies. It introduced the idea of digital scarcity with its limited supply of 21 million coins, contrasting with traditional fiat currencies that can be printed indefinitely by governments.
This week has been significantly volatile for the crypto market amidst mixed market sentiment around the spot ETH ETF. However, BTC has managed to stay above $66,000. A recent reversal around this level boosted the asset by 4%, currently trading at $69,095.
According to CoinMarketCap, Bitcoin has a market capitalization of $1.362 trillion, with a 24-hour trading volume down 33% to $15.5 billion.
Crypto prediction: On the daily chart, an ascending trend line is leading the current recovery trend in BTC. The coin price may need just a pullback from this dynamic support before revisiting the $73,800 peak and targeting a new high above $76,000.
