CandleFocus Bitcoin breaks $65,000 level, altcoins eye “up-only” season
2024-10-14
Author: Content Editor
The price of Bitcoin has surged past $65,000, reaching $64,900, and is 11% away from its all-time high of $73,000. The crypto market cap has also surpassed $2.3 trillion, experiencing a 1% increase in the last 24 hours. Altcoins, particularly Solana-based memecoins like Book of Meme, Slerf, Billy, and GME, are rallying. Sui (SUI) has reached a new all-time high of $2.35 and joins the top 20 crypto assets. A crypto analyst predicts an upcoming "up-only" season for altcoins based on the Altcoin Season Index forming a bullish Inverse Head and Shoulders pattern. The recent dip in Bitcoin's price below $60,000 is seen as an outlier as it gains momentum. China's economic stimulus measures and the upcoming US presidential election are considered positive catalysts for Bitcoin's price. Former President Donald Trump's support for Bitcoin has generated optimism among investors, while Vice President Kamala Harris vows to foster innovation in the crypto industry.
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