Bitcoin Price Breaks Records: $68,400 in Play and New Heights Are Near!
Bitcoin is making a splash again 🔥 – on October 16, it hit a monthly high of $68,400. And just recently, on October 15, it dropped by 3.41% in an hour! But it’s not just about the price – the Bitcoin network is also showing its teeth 🦁: active addresses are growing, hinting that demand and user activity are increasing. Everything screams that new players are entering the game.
Why is everyone so nervous? 🏃♂️
The price of Bitcoin is already almost $70,000, and analysts are closely monitoring this level. Right now, the question is being decided: will there be a short-term correction or will Bitcoin finally be able to break the chain of a six-month downtrend. The last historical maximum was back in March 2024 - $73,881, and since then BTC has been in a downward dance for 217 days 🌀.
But now – attention – Bitcoin is trying to break out of its trend captivity for the fourth time. The weekly chart shows it clearly – if we manage to break higher now, big changes await us further. 🚀
Should we break the window or close it? 🤔
Peter Brandt, a seasoned trader, says Bitcoin is "out of the window." The only question is whether it will make it through before it gets slammed shut. According to another analyst, BitQuant, if Bitcoin breaks through $70,000, we can expect it to hang out somewhere between $95,000 and $75,000. Yes, you heard that right — the range is just wild 🏄♂️.
Smile and wave: BTC is back in full swing 🏆
Even if short-term volatility is ahead (and who said that was a bad thing, by the way?), the network's metrics hint at a long-term bullish trend. 🔮 Data from Cryptoquant shows that active addresses have skyrocketed since the beginning of September 🚀. The Active Address Momentum indicator has reversed direction and has been trending upward for 45 days now. This means that the market is buzzing again - and it doesn't look like it's temporary.
In general, Bitcoin is now demonstrating dominance that has not been seen in the last three and a half years. Optimism around the most popular cryptocurrency continues to gain momentum, despite all the "autumn" difficulties 🍂.
So guys, get your wallets ready – it's going to be hot! 💸🔥
