$BTC

#### 🚀 Bitcoin on the Rise: 3 Reasons Why a New All-Time High Could Be Coming 💰

Bitcoin (BTC) recently dropped over 25% during market turmoil on August 5th. However, indicators suggest this might be a bear trap, with potential for a new all-time high in 2024. Here’s why:

**1. Bullish Divergence**

Bitcoin’s price shows signs of bullish divergence on weekly charts, where the Relative Strength Index (RSI) indicates weakening downward momentum. A Doji candle pattern, combined with rising trading volumes near the bull flag’s bottom trendline, suggests that Bitcoin could rise to $66,500 by September. If it breaks above this level, a rally toward $79,000 and a new record could follow.

**2. Whale Accumulation**

Bitcoin whales—holding at least 1,000 BTC—have withdrawn over 73,000 BTC from exchanges in the last 30 days, marking the largest accumulation since 2015. Such large withdrawals usually signal bullish intent, as these investors likely plan to hold rather than sell.

**3. Favorable Macroeconomic Factors**

Macroeconomic trends are also in Bitcoin’s favor. CME data shows a 100% chance that the U.S. Federal Reserve will cut interest rates in September, a positive sign for BTC. However, inflation data due on August 14th could impact this outlook.

🚀 Is Bitcoin gearing up for a historic bull run? Stay tuned!