In a brief hiccup during the bull rally, Bitcoin’s price dipped for two days. Despite this, BTC still increased significantly from $68,000 to above $100,000 in less than a month. Famed technical analyst Peter Brandt noted that a key metric for Bitcoin just signaled a potential bullish trend. Bitcoin’s price experienced a pause around the crucial trend line using the Bitcoin-to-Gold ratio.
Overcoming this resistance could support the idea of a sustained bull run for the crypto asset. With record inflows to Bitcoin ETFs and a strong response from the market, Bitcoin is likely to cross the four-year resistance line, pointing towards an even more bullish trend in the near future.
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