On Monday, Bitcoin (BTC) rose to $70,000 for the first time in more than a month. The price of Bitcoin increased by 5.8% in the last 24 hours and more than 10% in the last week. This increase comes ahead of a vote on the 21st Century (FIT21) Act and an increase in spot buying and spot BTC exchange-traded fund (ETF) buying. 📈

This has left the cryptocurrency community asking whether the bull market has just begun or is nearing its peak. BTC is facing critical resistance in the $69,000-72,000 range.

Bitcoin briefly rose above $70,000 on Friday as a crypto frenzy continues to captivate the investment community. It rose as high as $70,275 and quickly fell to $69,317.72. Since then and at the time of writing, BTC has remained at around $69,800.

This increase came as a surprise to some, even though the number of whale transactions involving at least $100,000 worth of BTC dropped by 51% in the last five days. If this marks the end of a resistance level, Bitcoin's price is ready to rise and flirt with all-time highs if it can successfully overcome the critical resistance level of $67,500.

-Quote:$BTC