- Bitcoin price is at $62,300 at the time of writing.
- Total market capitalization of cryptocurrencies is at $2.6 trillion.
- Bitcoin ETFs have received approval from authorities.
All eyes of the crypto market are fixed on Bitcoin price, as the top asset is just about $2,000 away from reaching its all-time high (ATH) price.
At the time of writing, Bitcoin price is at $62,241.89, according to CoinGecko. The current BTC price ATH is $64,804.72, which was from over 6 months ago. If BTC exceeds this price, then it would have recorded a new ATH. Moreover, the total crypto market cap has achieved more than $2.6 trillion. This amount was last achieved 6 months ago as well.
In just a week, Bitcoin has also earned a 13.3% increase following subsequent bullish news. For instance, the Nasdaq has approved the Bitcoin exchange-traded fund (ETF) application of Valkyrie Bitcoin Strategy ETF. Other entities like ProShares Bitcoin Strategy ETF also revealed that they have also been approved.
Based on the chart above, we can observe that Bitcoin is going to retest the $63,000 resistance level again after a failed attempt about three days ago. If it succeeds, we might see a new ATH in a couple of days. Currently, it appears that Bitcoin is still gathering support at this level before it attempts to breach the $63,000 barrier. This is reflected by the Relative Strength Index (RSI).
As the RSI shows, Bitcoin is having a lot of buyers right now. On the other hand, traders and investors who do not want to risk may interpret the RSI as a sign to not buy bitcoins yet.
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