Over the past week, BTC has made new highs reaching close to $80k levels. This rally is seen in broader crypto market after Donald trump’s election win.
In this article, we will discuss Btc current price analysis, weekly analysis along with news roundup.
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BTC Price Target
- Latest Price: $76,350
- Market Cap: Approximately $1.49 trillion
- 24-Hour Trading Volume: $60.6 billion
- Circulating Supply: 19.5 million BTC
- Max Supply: 21 million BTC
Keep an eye on the breakout or breakdown for an upward target of $100k.👀
Weekly Price Analysis
Bitcoin has experienced a surge over the past week, with a weekly increase of about 9.5%.
The price has risen and now trades between $75,500 and $76,500.
Key Indicators
- Relative Strength Index (RSI): Hovering above 70.
- Moving Averages: Bitcoin’s 50-day moving average is trending above the 200-day moving average.
- MACD: The Moving Average Convergence Divergence is in positive territory.
News Roundup
- Bitcoin Hits New Highs Post-U.S. Election: Following recent U.S. election results, Bitcoin surged to historic price highs, with optimism driven by anticipated pro-crypto regulatory changes.
- Institutional Investment Surge: BlackRock’s Bitcoin ETF saw unprecedented inflows at the beginning of November. Analysts see this as a key driver of the recent BTC rally, which is expected to sustain market enthusiasm.
- BRICS Consider Bitcoin to Challenge USD Dominance: Nations within the BRICS alliance are reportedly exploring Bitcoin as an alternative to the U.S. dollar in trade settlements.
- Major Institutional Purchases: Various institutions, including corporations like Microsoft, have been discussing Bitcoin investments. Emory University became the first U.S. university to publicly invest in Bitcoin.
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