Bitcoin (BTC) is gaining momentum and could soon compete with the rising stock market, according to a leading analyst. The cryptocurrency market moves in parallel with traditional financial trends. The analyst, known by the pseudonym Bluntz, predicts that BTC will experience significant growth if it exceeds the critical $60,000 level.

Bitcoin's Potential: Poised for a Significant Rally

Crypto markets are showing a revival led by Bitcoin. Analyst Bluntz expects a major change in BTC's performance if it exceeds the $60,000 threshold. Currently trading at $64,774, Bitcoin looks ready to catch the shine of the stock markets. Bluntz describes this expected jump in Bitcoin's value with the term "god candle".

From a broader perspective, Bluntz notes that Bitcoin bottomed when it dropped below $55,000 earlier this month. This period marks a period of bullish activity where investors buy BTC during the price decline. The monthly charts point to a solid recovery process, with a hammer candle pattern indicating that selling pressure is having a hard time pushing prices down further.

Interestingly, recent events such as former President Donald Trump surviving an assassination attempt may have contributed to Bitcoin's resurgence. Crypto analysis firm Santiment has observed a correlation between external political events and market sentiment, highlighting how such news can impact crypto dynamics.

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