Bitcoin's price is on the brink of setting a new all-time hi

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Bitcoin's price is on the brink of setting a new all-time high, having surged past the $70,000 mark earlier this week. Despite a slight retracement, market participants remain optimistic about the potential for further rallies. Technical analysis by TradingRage reveals that BTC has been rallying since rebounding from the $60K support level. Currently, the price is being supported by the $69K level. If this line holds, BTC could potentially rally towards the $75K resistance zone. On the 4-hour chart, BTC is breaking above a recent bearish trendline, with the RSI also rising above the 50% threshold, indicating a shift in momentum in favor of the buyers. If the $69K support level holds, the price could potentially reach the $75K area, setting a new record high. Sentiment analysis shows that many short-term holders have exited the market, selling their coins to new investors. However, as the SOPR metric rebounds, short-term holders are again taking profits as the price rallies. As long as there is sufficient demand, the price can continue to rise.

Bitcoin's price is on the brink of setting a new all-time high, having surged past the $70,000 mark earlier this week. Despite a slight retracement, market participants remain optimistic about the potential for further rallies. 
Technical analysis by TradingRage reveals that BTC has been rallying since rebounding from the $60K support level. Currently, the price is being supported by the $69K level. If this line holds, BTC could potentially rally towards the $75K resistance zone. 
On the 4-hour chart, BTC is breaking above a recent bearish trendline, with the RSI also rising above the 50% threshold, indicating a shift in momentum in favor of the buyers. If the $69K support level holds, the price could potentially reach the $75K area, setting a new record high.
Sentiment analysis shows that many short-term holders have exited the market, selling their coins to new investors. However, as the SOPR metric rebounds, short-term holders are again taking profits as the price rallies. As long as there is sufficient demand, the price can continue to rise.