"Looks like it has the potential to be bullish again, so don't be surprised if BTC suddenly reaches that level."
Swissblock, a cryptocurrency analysis firm thinks Bitcoin (BTC) which recently retested $59,000 shortly after breaking through $69,000 is about to make another new all-time high.
According to the chart shared by Swissblock, BTC which is now back above $66,000 has marked the beginning of a new uptrend where the price may target $76,000 and it should be known that QCP Capital also predicts the increase.
As $60,000 proved to be a good support zone, a higher path has now been opened and a short-term breakout higher could be triggered as the bullish momentum resumes, QCP Capital further commented.
Please note that the spot BTC ETF listed in the United States (US) has attracted massive inflows during the fall in BTC prices in the last two days as ETF investors were not affected by the decline, but continued to buy.
A combination of ten new ETFs saw net inflows of $648 million plus the BlackRock iShares Bitcoin ETF (IBIT) broke its daily record by enjoying $788 million in new investment then adding 12,600 BTC worth $778 million to the fund.
On the other hand, a popular crypto expert Capo predicts that the price of BTC will see a drop of up to $45,000 due to high interest rates by the Federal Reserve (Fed) while the United Kingdom (UK) and Japan announce they are in recession.
As of this writing, BTC price has surged by 3.93% to $66,057 in the last 24 hours with a market capitalization of over $1 trillion and is up 7.78% over the past week.
