Bitcoin's recent surge to $69,000 signals potential further upside supported by positive inflation data and macroeconomic events. Despite concerns about miner selling and ETF outflows, analysts remain optimistic about Bitcoin's trajectory towards $72,000.
Large holders accumulating Bitcoin to pre-2020 bull run levels hint at a potential breakout above $70,000, while analysts predict a spike to $91,539 despite the Federal Reserve's 'hawkish tone'. The recent surge in Bitcoin price following the Federal Reserve's decision to maintain interest rates unchanged is mirrored by gains in Ethereum, Solana, and Polkadot.
Bitcoin miners are capitalizing on the rally as transfers to exchanges hit a two-month high, despite a decline in daily revenue due to lower transaction fees post-halving. Traders are advised to monitor key support/resistance levels for Bitcoin and other top cryptocurrencies like ETH, BNB, SOL, XRP, DOGE, TON, SHIB, ADA, and AVAX for potential breakout or breakdown signals.
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