Bitcoin Hits $68,000 Again – Bullish Trend Continues

Bitcoin (BTC) has reclaimed the $68,000 threshold despite being volatile after hitting a new ATH.

Volatility remains evident in the cryptocurrency market, yet Bitcoin (BTC) proved its resilience by rebounding to the $68,000 mark. Despite the current declines, Bitcoin bulls kept going by going up by 1.18% in the last 24 hours lifting its price from the $65,655.53 threshold earlier. Bitcoin (BTC) is currently trading at $67,039.72.

Let’s do a recap of Bitcoin’s price in the last 7 days…

This week started with Bitcoin (BTC) showing a range-bound performance as its spot value lingers near the $61,000 level. However, spot Bitcoin ETF issuers’ buying momentum has significantly increased, resulting in a massive surge that led Bitcoin (BTC) to its All-Time High (ATH) of $69,170.63

It’s been over 2 years since Bitcoin (BTC) reached its ATH in November 2021. Bitcoin (BTC) has been making a series of attempts to return to the ATH, however, the investors who gained profit back then turned skeptical in re-investing in BTC. Despite Bitcoin’s fluctuations, the crypto coin was able to manage to maintain a value above $61,000 even if critics believe that there will be more further decline in BTC’s price.

Spot Bitcoin ETFs and Bitcoin Projection

With much anticipation going on around Bitcoin’s price, the influence of spot Bitcoin ETFs remains significant, as it captivates institutional investor’s interest. Bitcoin proponents view the correction as healthy, and necessary to enhance the flagship of BTC’s price through consistent accumulation.

Meanwhile, Robert Kiyosaki sees a $300,000 price target for Bitcoin (BTC) by the end of this year. His optimism toward the BTC price has always been on track even before the spot Bitcoin ETFs’ approval.

The most-awaited Bitcoin halving event remains a major catalyst that is set to enhance the current demand from the spot Bitcoin ETFs. With the supply set to decrease by 50%, the supply decreases, if the demand is sustained, it is expected that the market will likely value the crypto even higher.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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