💥💥💥 #bitcoin☀️ surges past $65k to push 90% of holders into profit
Bitcoin's price has surged to $65,500 on major exchanges, marking a 7-week high. This upward move has pushed over 90% of Bitcoin holders into profit, according to data from IntoTheBlock. Bitcoin's spike above $65,000, reaching $65,500 on platforms like Coinbase, represents the highest price level since early August 2024.
Other #Cryptocurrencies are also benefiting from this momentum. Ethereum has risen above $2,600, BNB has crossed $600, and Solana has jumped to $157.
$BTC Reaches 7-Week High
In recent weeks, Bitcoin had struggled to break through resistance at $60,000. However, after breaching that barrier, the leading cryptocurrency surged to $65,500, a level last seen on August 2, 2024. This retest of the $65,500 zone could serve as a key battleground for both bulls and bears.
Earlier, IntoTheBlock highlighted that over 90% of Bitcoin holders would be in profit if BTC surpassed $65,000— a milestone that has now been achieved. Despite this, with profit-taking already underway, bulls will need to maintain momentum to push prices higher. Short-term targets include $68,000 and $70,000, with the potential for a retest of the all-time high of $73,000 reached in March.
On the other hand, bears may attempt to push prices lower, as witnessed in late July and early August when Bitcoin dropped from highs of $70,000.
Source - coinjournal.net
