Huge Bitcoin Breakout To New Highs Could Be Near As BTC Price Blasts Past $67,000 ⋆ ZyCrypto
The post Huge Bitcoin Breakout To New Highs Could Be Near As BTC Price Blasts Past $67,000 ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Bitcoin (BTC), the largest and oldest crypto by market cap, jumped past the $67,000 level on Monday as China’s economic stimulus plans sent the country’s stock flying. China’s stimulus measures to support the world’s second-largest economy could offer a strong boost to crypto throughout the rest of the year amid a reduction to U.S. benchmark interest rates. Bitcoin’s Retakes $67K Amid Broader Market Rebound Bitcoin has made another push toward establishing a foothold above $67,000. Up 1.9% week-to-date, BTC gained a collateral boost from events in China, where comments from a top government official pushed Chinese stocks higher. BTC added 3.2% in the past 24 hours to trade hands for $67,491, CoinGecko data shows. In a briefing on Saturday, China’s Finance Minister Lan Fo’an laid out the nation’s plans to provide a fiscal stimulus package to revive its giant economy and hinted at more government borrowing. BTC had been trading sideways below $63K in recent weeks after falling below $59,000 following last Thursday’s hotter U.S. CPI inflation report and ample turmoil in financial markets. Advertisement   “2 higher lows, a higher high & prices pushing for new highs again,” pseudonymous crypto trader Jelle proclaimed in an Oct. 14 X post. “Summer lull is behind us. Let’s have some fun,” Jelle added. After ±6 months of bearish structure, #Bitcoin is slowly moving higher again. 2 higher lows, a higher high & prices pushing for new highs again. Summer lull is behind us. Let’s have some fun. pic.twitter.com/qgknPZ9sOP — Jelle (@CryptoJelleNL) October 14, 2024 Simultaneously, Ethereum, the second-largest cryptocurrency by market capitalization, is also experiencing upward pressure, trading at $2,666, up 3.4% from the previous day. And Solana, the fifth biggest coin, has also jumped by 2.9% in the past day. The Ether rival is now priced at $153.55,…
Filed under: News - @ October 15, 2024 6:26 pm