Bitcoin's recent price surge of 10% over the past week has put 95% of Bitcoin holders in profitable positions, indicating that the cryptocurrency could be on track to reach a new all-time high. On-chain analysis suggests that Bitcoin could surpass the $70,000 mark and continue to climb. The Global In/Out of Money (GIOM) data reveals that a majority of addresses are currently in profits, indicating a bullish trend. Additionally, the Market Value to Realized Value (MVRV) pricing band suggests that Bitcoin could reach $78,143 sooner than expected. The Awesome Oscillator (AO) indicates growing bullish momentum for Bitcoin. If the momentum continues, the price of Bitcoin could rally by 14.25% to $78,000, but there is a possibility of a short-term retreat to $62,555 if selling pressure arises.



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