Bitcoin($BTC ) Edges Past $67K as Analysts Predict It'll Keep Climbing
There's growing accumulation of Bitcoin call options for the December 2024 expiry on Deribit, indicating traders' optimism for the year end.
Bitcoin is starting the week having seen monthly highs over $67,000 over the weekend and early this morning.
At the time of writing, the Bitcoin price has retraced slightly to $66,868.04 after having dropped 0.4% in the past 24 hours, according to CoinGecko data. That means the world's oldest and largest cryptocurrency now has a $1.3 trillion market capitalization and accounts for more than half the $2.5 trillion global crypto market cap.
The sunny disposition of Bitcoin price charts has some analysts breathing a sigh of relief.
"Bitcoin broke the local downtrend, reclaimed the previous cycle highs - and now consolidates around $67,000," wrote pseudonymous crypto trader Jelle on Twitter. "It's time to push back into the seventies, and beyond."