Bitcoin Investors Make $456 Million Daily As BTC Prepares For Major Rally
Bitcoin has broken $65,000 barrier after many days of strong market movement and increased confidence after last week's interest rate reduction. Analysts and investors are now predicting greater prices in the coming weeks after this spectacular advance.
The average BTC investment profit has climbed dramatically but remains far below past highs, signaling opportunity for development, according to CryptoQuant statistics. BTC may test its all-time highs due to this favorable mindset.
Market players watch BTC's price behavior to see whether it will continue rising.
Bitcoin's price movement broke major barrier and showed indications of strength, therefore the question is if it can continue. Investors and traders want to see whether BTC can keep rising and reach new milestones in the coming weeks.
Since early September, when price and market sentiment were at annual lows, Bitcoin has risen 22%.
After the Federal Reserve's statement, investors are optimistic that BTC might climb higher in the coming weeks. Many experts now expect the main cryptocurrency to rise.
Bitcoin investors are making $571 million daily opposed to $115 million in losses. A daily net profit of $456 million indicates significant market confidence.
BTC Technical Analysis: Hold Prices
Bitcoin is at $65,637 after closing above the 200 MA at $63,823, confirming a daily advance. This development has investors optimistic about rising pricing in the coming days. Market investors see this confirmation as a positive indicator of further increases.
If BTC can stay over $65,000 and close above the 1D 200 MA, $70,000 will be the next big supply milestone. Breaking this barrier might send BTC to new highs. Price action must maintain momentum to prevent a retreat.
BTC may consolidate after a strong retrace to $60,000 if it fails to sustain its position above current levels. The price might test demand and strengthen before an aggressive surge.
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