25th Oct 2021 | ZebPay Trade-Desk
Bitcoin (BTC) currently trades around the $62k mark. The asset witnessed a slight correction after it hit its new ATH of $66,930 last week. Some consolidation is seen, but volumes have continued to hold up well. BTC has a market capitalization of $1.2T and a dominance of 46%. In a nutshell, the past week has been a good one for the market, and largely in the green. Between ETF approval, ETF launch and now new ATHs, the pace of news is frenetic, but all positive.
Bulls are making it large as Bitcoin skyrocketed to the new all-time high of $66,999. BTC is trading in a steep uptrend and has surged almost by 64% within a month. The asset faced resistance at the $67k mark and witnessed some profit bookings at these levels as the price corrected almost by 11% from the peak and made the weekly low of $59,650. If the price holds the support of $59,500 then the bulls may resume the up move. Technically, $65,000 to $67,000 will act as a strong resistance zone, and to further rally BTC needs to break and close above the resistance level whereas $60,000 will act as strong support for the asset.
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