Bitcoin has spiked past $65,000, reaching the highest price level since early August 2024.

The surge to the $65k level, with BTC hitting $65,500 on Coinbase, has put more than 90% of Bitcoin holders into profit.

Notably, the surge has other coins looking to break higher.

Ethereum has strengthened above $2,600, BNB is above $600 and Solana has jumped to $157.

In recent weeks, Bitcoin had struggled to breach resistance at $60k.

However, once bulls did, the flagship cryptocurrency has run to a seven-week high last seen on August 2, 2024.

The coin’s price hit the $65.5k area on most major crypto exchanges to see it retest a level likely to be key for both bulls and bears.

Earlier in the day, on-chain analytics platform IntoTheBlock noted that more than 90% of BTC holders would swing profitable if Bitcoin crossed the $65k.

This has happened and with recent profit taking deals in mind, bulls may need further strengthening to continue higher.

Short term, the key levels are at $68k and $70k – which could include a potential retest of the all-time high of $73k reached in March.

Alternatively, bears may take advantage and return prices lower – a scenario witnessed in July/early August as BTC declined from highs of $70k.

블록테크미디어 BOBOMURODOV MANSUR desk@blocktechmedia.com BOBOMURODOV MANSUR의 기사 더보기

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