Could Bitcoin Break $71,000 With a New Rally? Here is Analysts’ Prediction

Today Bitcoin Its price rose, creating a wave of excitement in the cryptocurrency market. In particular, analysts are divided between long-term optimism and short-term volatility as debate continues over the halving and its potential impact on prices.

However, recently several analysts have caught the attention of market participants by predicting an increase in Bitcoin’s price.

Today’s rise is higher than last week’s Bitcoin halving It contributed to the atmosphere of optimism seen since the event. While many market experts offer a positive outlook for BTC’s long-term trend, some continue to observe short-term fluctuations.

Therefore, analysts and market experts are closely monitoring Bitcoin’s price movements and leading figures are giving hints about future trends. For example, Ali Martinez, one of the respected names in the crypto community, suggested that Bitcoin’s $66,000 level is an important support level.

Martinez also stated that at this level, a total of 747,000 BTC was received in 1.54 million important addresses, indicating strong support. Additionally, Martinez identified a critical resistance zone between $69,900 and $71,200, fueling discussions that Bitcoin could rally as high as $71,200 in the future.

Bitcoin is trading at a critical stage

This analysis in particular injected new optimism into the market and increased expectations among investors.

Bitcoin Market Reactions and Price Changes

Alongside the positive sentiment, IntoTheBlock, a leading analytics platform, noted that Bitcoin’s current position is above a key demand zone. With approximately 1.66 million addresses purchasing Bitcoin at an average price of $64,800, it was emphasized that this level could offer solid support amid any downward pressure. This assessment reinforces the growing confidence in Bitcoin’s resilience to market fluctuations.

On the other hand, another prominent crypto analyst, Kaptan Faibik, also shared a similar sentiment to Ali Martinez. In particular, the analyst predicts a positive trend for Bitcoin and notes a bullish flag formation on the daily chart. Faibik predicts that an upward breakout from this formation could lead to a new all-time high in May.

Meanwhile, at the time of writing, Bitcoin’s price increased by 1.71% to $66,090.41, and its volume in the last 24 hours increased by 14.63% to $25.03 billion. Despite the sharp decline in the last few days, BTC has gained nearly 2% in the last 30 days with its recent gains.

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