Bitcoin Price Analysis: BTC Nears All-Time High As BTC ETF Inflows Soar And This PEPE 2.0 ICO Barrels Toward $24M
The Bitcoin price surged 2% in the last 24 hours to trade at $72,146 as of 04:24 a.m. EST on trading volume that surged 10% to $52.16 billion. This comes as the BTC price hit a high of $73,577 on Oct. 29, just shy of the all-time high price of $73,750 recorded in March this year. Bitcoin is up 111.8% in the past year, after starting 2024 in the $42K range, according to CoinGecko . This comes as US spot BTC ETFs (exchange-traded funds) saw over $870 million in net inflows on Tuesday, the third highest since launch, with BlackRock’s IBIT leading the way with a $629 million influx. Bitcoin Price Bulls Aim To Sustain The Bullish Stance The Bitcoin price is trending within an upward channel marked by two orange lines. This channel, starting around August, represents a bullish trend with higher highs and higher lows, indicating growing buying pressure. BTC/USD Analysis on the 1-day chart is trading near the top of this channel at around $71,000, which is a resistance level...