The macro technical indicators on the weekly timeframe suggest that if $BTC surpasses $70,000, it could begin a journey to explore new ATH levels.
In addition, with the upcoming U.S. election on November 5, 2024, Republican candidate and former U.S. President Donald Trump is a strong supporter of crypto. If he wins, not only would it ensure a crypto-friendly regulatory environment for development in the U.S., but there’s a high probability that the bill to purchase 1 million Bitcoin as national reserve assets in the U.S. Treasury would pass.
As long as investors believe in this, regardless of the outcome, that belief alone could push #Bitcoin❗ to new ATH levels before the election takes place.