Bitcoin hits new all-time high, what's next for BTC
Bitcoin just touched a new high of nearly $75,900 before settling at $74,403 today.
This small jump pushed the entire crypto market cap up to $2.54 trillion.
With investor sentiment on the rise and Bitcoin testing tough resistance levels, everyone's watching to see what comes next.
Short sellers lost $124 million
If you're into crypto or just curious, this surge is catching eyes, especially since short sellers lost $124 million when Bitcoin broke past $75,000.
Derivatives activity on major trading platforms and increased institutional flows have helped support the rally, with some forecasts expecting Bitcoin to be around $78,000.
Support levels between $60,000 and $65,000
Experts say bullish signals are everywhere: think strong momentum and a healthy RSI score of 62.
Plus, most Bitcoin is held by wallets with 10 to 10,000 BTC (about 68% of all coins), which adds to scarcity given accumulation by those wallets.
Support levels between $60,000 and $65,000 are giving investors more confidence that these prices might stick around.