The price of the primary cryptocurrency has been on an uptrend in the past few days, rising to as high as $71,700 on June 5. Currently, it hovers the $71,000 mark (per CoinGecko’s data), representing an 11% increase on a monthly scale.
The resurgence coincided with record figures related to spot Bitcoin ETFs in the USA. Those products witnessed a total inflow of almost $900 million yesterday, the second-best day since their approval in January.
Numerous analysts believe BTC could soar even higher in the near future, assuming certain factors are in place. The X user, Captain Faibik, predicted a rise above $90,000 should the asset surpass the “crucial resistance level” of $71,300.
On the other hand, Ali Martinez assumed that a pullback is not out of the cards based on the TD sequential, which presents a sell signal on the four-hour chart. This technical analysis tool identifies potential price exhaustion points in the market and indicates when a trend is likely to reverse.
The resurgence coincided with record figures related to spot Bitcoin ETFs in the USA. Those products witnessed a total inflow of almost $900 million yesterday, the second-best day since their approval in January.
Numerous analysts believe BTC could soar even higher in the near future, assuming certain factors are in place. The X user, Captain Faibik, predicted a rise above $90,000 should the asset surpass the “crucial resistance level” of $71,300.
On the other hand, Ali Martinez assumed that a pullback is not out of the cards based on the TD sequential, which presents a sell signal on the four-hour chart. This technical analysis tool identifies potential price exhaustion points in the market and indicates when a trend is likely to reverse.
