Bitcoin (BTC) is on the verge of a major breakout after a prolonged downward trend. Recently fluctuating between $60,000 and $62,000, BTC is aiming for the $70,000 range. However, challenges remain, including the impact of the upcoming US presidential elections and ongoing geopolitical tensions, which could continue to weigh on the cryptocurrency.Currently trading at $62,102, BTC could drop to $56,602, $52,614, and potentially $50,580 if it falls below $60,000. Escalating tensions in the Middle East, particularly between Israel and Iran, may contribute to increased selling pressure. Weekly closures below the key $52,614 level could trigger further declines toward $40,000 to $42,000.On the upside, if tensions ease or if the US elections positively influence the market, and Bitcoin manages to close above $63,000 daily, it could climb towards $64,758, $67,091, and eventually $70,500. The $70,500 mark is criticalâweekly closures above it could fuel a rally toward $73,684.Altcoin investors should monitor Bitcoinâs dominance and the price of Ethereum (ETH). If Bitcoinâs dominance falls below 50%, altcoins may see significant gains. For ETH, holding above $2,500 will be crucial to spark a potential altcoin surge.
#btc #WeAreAllSatoshi #moonbix #SCRLaunchpoolStarts! #SCRfarmingyet?
