Blockchain surveillance resource Lookonchain has identified a pattern suggesting that Bitcoin may be on its way to a new all-time high. Bitcoin recently experienced several consecutive intraday gains and came close to breaching its previous all-time high in March 2024. Despite a pullback, Bitcoin has maintained its gains and is currently holding strong above $72,000. Lookonchain has previously identified a trend where Bitcoin has started significant market rallies in October, which has historically led to massive price uptrends. Analysts believe that with the forthcoming U.S. presidential election and Bitcoin's proximity to its previous all-time high, a new peak could be on the horizon.



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