BITCOIN STILL ON AN UPTREND:
The news about Bitcoin highlights a recent milestone in its price performance.
By mentioning that it hit its first higher low since March, it refers to the fact that, instead of falling to previous levels, it has achieved a higher support point compared to that period.
This can indicate an uptrend, as a "higher low" means that price pullbacks occur at higher levels than previously.
The fact that this cost basis is just below $62,000 implies that this has been a key area of ââresistance for the Bitcoin price.
If the price continues to consolidate above that level, it could be a sign that there is enough demand to support further increases, which would further boost positive market sentiment. However, it will also depend on external factors such as monetary policy, regulatory news, and institutional or retail adoption.
