The post Can BTC Maintain Its Surge Above $68,000? appeared on BitcoinEthereumNews.com.

Bitcoin is showing strong signs of bullish momentum with its price hovering above $68,000. Key technical indicators, chart patterns, price action, whale activity, and Bitcoin ETF inflows are pointing toward an upward rally. With only a few days until the election, all eyes are on how Bitcoin will react. Curious to know more? Read on!  Crypto Technical Indicators: What Do They Say? At present, Bitcoin stands at $68,242. On October 14, the market broke above the previous high of $65,831.41. This higher-high pattern points to the possibility of the price going higher.   The weekly chart of Bitcoin shows that Bitcoin is attempting to break a major trendline connecting lower highs. When the MACD indicator is applied to the chart, we see a bullish MACD crossover forming. The chart also shows an inverse head and shoulders pattern, which is a signal of a potential rally.  BTC Spot ETF Inflows and Whale Activity Boost Market  The Bitcoin Spot ETF market has seen at least six consecutive positive inflows since October 11. The highest of +555.90M was recorded on October 14, and the lowest of +253.60M was reported on October 11. Yesterday, the market registered a net inflow of +273.70M. This consistent net inflow signals strong market interest.  Yesterday, the exchange whale ratio was 0.51%. In the beginning of the month, it was just 0.49%. This indicates that whales are buying large amounts of Bitcoin. Increasing whale activity is also a bullish signal.  Bitcoin vs Gold: Will Bitcoin Follow Gold’s Breakout?   Gold is experiencing a massive breakout. The price of Gold now stands at 2721.2 USD/t.oz. In the last month, it has experienced a rise of 5.18%. Since Bitcoin and gold tend to move in tandem. Bitcoin may follow suit.  US Election Impact: Will Markets Explode After the Election? With only 17 days…

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Filed under: News - @ October 19, 2024 12:26 pm