CandleFocus

Can Bitcoin Now Make A New All-Time High

Bitcoin has been steadily rising and is currently close to reaching $70,000, a price it hasn't seen in months. Market sentiment is heating up and investors are wondering if Bitcoin can reach new all-time highs or if it will struggle to break resistance levels. The Fear and Greed Index is at a "Greed" level of around 70, which is positive but not extreme. The Short-Term Holder Realized Price is a strong support level for Bitcoin and it is currently holding above it. Funding rates are stable, reducing the risk of a liquidation cascade. However, there are still significant resistance levels to overcome. Institutional money is flowing into Bitcoin ETFs, indicating confidence in the asset. Overall, the market is in a healthier place, but challenges remain before Bitcoin can break out to new highs.

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