Bitcoin Breaks $70,000, Confident BTC Bulls Eye All-Time Highs And $100,000

Bitcoin continued its march higher yesterday, decisively breaking above $70,000 and $71,000. With the rejection of bears and prices moving above September highs, the uptrend remains. Accordingly, traders can choose to load the dips on every attempt lower, expecting a breakout above $72,000 to all-time highs. Multiple factors can spark the wave of higher highs, politics being one of them.

At spot rates, the world’s most valuable coin is printing higher highs. The coin is up 4% in 24 hours amid decent trading volume, expanding to over $47 billion on the last day. If the solid start of the week continues today, the odds of Bitcoin floating above $72,000 will be high.

Traders are keeping close tabs on the following Bitcoin news events:

• The series of higher highs from the end of last week has seen sentiment improve. For now, over 70% of BTC traders expect a lift-off, preferably above $72,000.
• As Bitcoin rejects lower prices, the total number of Bitcoin whales now stands at over 1,675, the highest since early 2021. This indicates that confident, high-net-worth individuals are accumulating.

Bitcoin Price Analysis

BTC/USD is bullish when writing.

Yesterday, buyers reversed losses of October 25—a massive vote of confidence for buyers.

The decisive explosion, reversing these worrying losses, and breaking above September highs is massive for BTC holders.

If buyers succeed today, breaching $72,000, every low may offer entries for traders targeting $74,000 and, later, $100,000.

The immediate support is $70,000, a round number that can act as a springboard for optimistic bulls.