Amidst the bull run gaining momentum, the Bitcoin price recovery rally finally surpasses the $69,000 mark. The BTC price makes a new all-time high and trades at $X, crossing the levels last witnessed in November 2021. This happened for the first time before the halving event; otherwise, the halving was known for driving bull runs to create new all-time highs.
With an intraday growth of X% and growing, the buyers are heading closer to the Bitcoin price prediction of $100,000. Further, the growing inflow of the Bitcoin Spot ETFs fuels the investors’ sentiments.
Amidst the rising momentum, the crypto industry is close to hitting the $2.50 Trillion market cap, presenting a bull market in action. Further, Bitcoin’s dominance is more than half, standing at 52%.
With Bitcoin hitting a new all-time high, let’s have a closer look at its price chart to find the next potential target.
Will Bitcoin Cross $100,000?
After the formation of a new all-time high above $69,000, the BTC price is close to surpassing the $70,000 mark. Further, with the more than 100% jump in trading volume, at $75 Billion, the buyers are lining up to pay the extra premium.
Source: Tradingview
In the monthly chart, the BTC price analysis presents a rounding bottom breakout and hints at a trend continuation. As per the price pattern, the breakout rally can easily surpass the $100,000 mark.
Further, the trend continuation leads to the seventh bullish candle, marking seven straight positive months for Bitcoin.
In the coming months, the Bitcoin halving, the rising inflows in Bitcoin ETF, a potential conclusion to the GBTC outflow and reversal to finally sign inflow and potential rate cuts can lead to further jump in Bitcoin.
Hence, with the Bitcoin price hitting a new-all time high signals a new bull run for the biggest crypto. Further, this will lead to a market-wide recovery as it boosts the confidence of investors. Therefore, many altcoins might witness a surge in buying pressure to hit new highs.
