đČBitcoin Surges to $59,000 Ahead of Halving Event. Entering its third consecutive day of bullish momentum, Bitcoin has surged past the $59,000 threshold, hurtling towards the significant $60,000 milestone. Concurrently, the trading volume of Bitcoin ETFs has breached the $2 billion mark, underscoring the robustness of the cryptocurrency.
The forthcoming halving event and potential rate cuts serve as additional catalysts, contributing to what can be described as an impressive âPre-Halving Run.â With a remarkable 40% surge in value this month, Bitcoin seems poised to attain a new all-time high before the impending halving.
Entering its third straight day of bullish momentum, Bitcoin has surged past the $59,000 mark, heading for the key $60,000 milestone. Simultaneously, the trading volume of Bitcoin ETFs has breached the $2 billion mark, underscoring the strength of the cryptocurrency.
The upcoming halving event and possible rate cuts act as additional catalysts, in what can be described as an impressive "pre-halving run". With a phenomenal 40% increase in value this month, Bitcoin looks poised to hit a new all-time high before nearly halving.
As the bullish trend gathers steam, the price of BTC is predicted to reach the much-anticipated $100,000, which is an interesting momentum sign for Bitcoin's future.
In the realm of the daily chart, Bitcoin is undeniably bullish, as indicated by the formation of three consecutive bullish candles. The cryptocurrency market cap has now crossed the $1.1 trillion mark, further fueling the upward trend.
Approaching the challenge of the $60,000 milestone, BTC price has the potential to reach $68,157, as indicated by the trend-based Fibonacci levels. An intraday growth of 3.59%, taking Bitcoin to $59,000, along with an increase in trading volume, indicates the cryptocurrency's forward momentum.
Specifically, Coinglass reported $244.12 million in liquidations over the past 24 hours, with $139 million in short orders affecting approximately 81,536 traders.
