The crypto world is in the limelight as itcoin">Bitcoin (BTC), the dominant cryptocurrency, has surged above the $70,000 mark and experts are speculating whether a bull run is around the corner. This wave comes after a month of trading below this key psychological level.
This is due to a rising demand for spot itcoin">Bitcoin and a higher number of spot itcoin">Bitcoin ETFs being purchased. The general bullishness has also been bolstered by the anticipation of the vote on the 21st Century (FIT21) Act.
itcoin">Bitcoin is trading only a few thousand dollars away from $70,000 and technical indicators suggest this is not over yet. The 20-day EMA and the positive RSI indicate a potential breakout and a price increase to new all-time highs for BTC.
However some analysts remain cautious about the recent trend as a decrease in the number of such whale transactions may be a sign of decreasing institutional interest in itcoin">Bitcoin.
However, the crypto community is actively following the itcoin">Bitcoin price action and is expecting a successful breakout above $67,500 as a signal for a possible large uptrend that could further fuel a crypto fever among investors worldwide.
The recent movement of BTC past the $70,000 mark is a clear indicator that crypto is here to stay and has a lot of potential in the future as well.
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Bitcoin Surges Past $70,000, Nearing ATH Amidst Crypto Frenzy
