Bitcoin has re-established the key $60,000 price mark for the first time since August 30, and according to one crypto analyst, the surge from institutional investors this time around makes a noticeable difference.
“This time is different,” analyst Rajat Soni shared in a post on X on September 14. Soni explained that Bitcoin has been “consolidating” above the $50,000 mark for over six months.
However, the last time Bitcoin crossed the $50,000 mark was in 2021, when most of the interest came from retail investors. He emphasized:
“The price has failed to sustain above $50,000 previously as most of the buying and selling has been driven by retail investors, who tend to make decisions based on emotions.”
Soni said this time is different, as “institutional investors have entered the market and are ready to buy up whatever retail investors want to sell.” He warned his 96,900 followers: “If you sell now, be prepared to pay a much higher price to buy back the same amount.”
Bitcoin is currently trading at $60,120, up 4% from September 12, according to data from CoinMarketCap.
After Bitcoin surpassed the $60,000 mark, anonymous trader Jelle suggested that the asset could break its usual downtrend in September.
“Bitcoin is on track to close September in the green,” Jelle wrote. He also pointed out that Bitcoin has only achieved a “green close” in September three times in the past, in 2015, 2016, and 2023.
According to data from CoinGlass, September is typically the worst month for Bitcoin, with an average loss of 4.49% over the past 11 years.
Benjamin Cowen, founder of Into The Cryptoverse, also noted in a September 14 post that this is “the highest daily close for BTC dominance this entire cycle.”
At the time of writing, Bitcoin’s market dominance is at 57.80%, according to data from TradingView.
Meanwhile, Will Clemente, co-founder of Reflexivity Research, noted in a September 14 post that there are “some early technical signals emerging for BTC.”
“We are waiting for Bitcoin to break above the 200-day moving average. This would mark the first time in six months that Bitcoin has made a higher high, and it could be time to start looking at altcoins,” Clemente added.
Source: https://tapchibitcoin.io/bitcoin-tai-lap-moc-60-000-usd-va-lan-nay-khac-biet-theo-loi-mot-nha-phan-ich.html
