Bitcoin
BTC
tickers down
$65,183
starts a new week with bulls gunning for all-time highs as February’s BTC price transformation continues.
After a solid monthly close, the first weekly candle of March completed comfortably above $60,000.
As anticipation mounts of what might come next, sellers tacitly accept that there may be nothing in the way of Bitcoin heading into price discovery.
The scenario marks one of the most optimistic outcomes for 2024 and is considerably better than what many traders and analysts expected.
That said, plenty of volatility hurdles remain in place between now and the end of the month — and April’s block subsidy halving remains a pivotal moment in itself.
The action gets underway almost immediately with the United States Federal Reserve due to provide guidance on the state of the economy.
Should this offer no surprises for risk-asset traders, crypto already has enough to contend with — the exchange-traded funds (ETFs) may continue buying BTC. Still, the average investor is now acting out of “extreme greed.”
Can the market trajectory sustain its recent trend, or is a more substantial correction and consolidation period possible?
Cointelegraph looks at the current state of Bitcoin markets at what could become a watershed moment for the current BTC price cycle.
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