Bitcoin Roars To Life: Will The LSE Drive BTC To $100k?

Bitcoin is rising, recently breaking above $70,000 before returning to spot rates. Even though there are hints of strength, buyers must confirm the upswing of March 25 for the uptrend to be confirmed. Presently, the path of least resistance remains northward from a top-down preview with bulls firmly in charge.

As it is, BTC is up roughly 7% in the past trading day and 4% in the previous trading week. The coin is changing hands above $69,700, and interest is swirling. Following the swing higher on March 25, trading volume is up 42% in the last day to over $41 billion. At the same time, the market cap is up 5% to over 41.3 billion.

The following Bitcoin news events might shape price action:

• Looking at the data, last week’s retrace seemed to offer users an opportunity to accumulate. Over 52,000 BTC were bought by sharks and whales. This development comes ahead of the highly anticipated halving event. Analysts expect users to continue accumulating ahead of halving, set for April 19.
• From April 8, the London Stock Exchange (LSE) will begin accepting applications for users planning to list Bitcoin Crypto Exchange-Traded Notes (ETNs). Trading of these products will start in Q2 2024.

Bitcoin Price Analysis

BTC/USD is bullish, looking at price action in the daily chart.

Even though the uptrend remains, skeptical traders need more confirmation.

So far, the coin is trading above the middle BB. This is bullish. As it is, traders can search for entries on dips above $69,000 or March 20 highs, targeting $73,800. Any breakout above all-time highs thrusts BTC into unchartered territory, even to $100,000.

Conversely, if BTC falls below $64,500, it will cancel this bullish preview.