Bitcoin Ready for New ATH? BTC Price at $62,300

Bitcoin all time high
  • 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.

BTC/USDT 1-day chart (source: TradingView)

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).

BTC/USDT RSI (source: TradingView)

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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