BTC has gained almost 5% over the past 12 hours, topping $62,000 for the first time in more than three weeks.<\/p>\n
The asset climbed from an intraday low of $59,200 to tap $62,600 before retreating slightly during the Wednesday morning Asian trading session.<\/p>\n
In a post on X on Sept. 19, crypto analyst \u2018Nebraskangooner\u2019 called it a breakout targeting the next resistance area at $63,500 to $64,000, where BTC last visited but failed to breach on Aug. 25.<\/p>\n
#Bitcoin<\/a><\/p>\n Finally a breakout.<\/p>\n Should send us to $63,500-64,000 resistance area https:\/\/t.co\/0HunuhRQRY<\/a> pic.twitter.com\/TORPviznPb<\/a><\/p>\n \u2014 Nebraskangooner (@Nebraskangooner) September 19, 2024<\/a><\/p>\n\n Reflexivity Research co-founder Will Clemente eyed a \u2018higher high\u2019 targeting the $65,000 level, which would validate the breakout and larger move to the upside.<\/p>\n Shoutout to whoever just ripped BTC into the close<\/p>\n All eyes on $65k for a higher high pic.twitter.com\/mTEBJ52QeA<\/a><\/p>\n \u2014 Will (@WClementeIII) September 19, 2024<\/a><\/p>\n\n Meanwhile, analyst Willy Woo said<\/a> there were lots of spot BTC being scooped up in the medium term.<\/p>\n \u201cExchange inventory accounting for derivatives remains flat, but this could change quickly if we get a short squeeze,\u201d he said before adding that the chart pattern is forming a bull flag.<\/p>\n \u201cCurrent demand and supply is neutral bearish, but signs of moving into a bullish structure if we get some liquidations. Cautiously optimistic.\u201d<\/p>\n Trader \u201cBluntz\u201d told his 274,000 X followers on Sept. 19 that markets were about to rip in what will be the last macro leg higher before a new all-time high.<\/p>\n dont fade this next $BTC<\/a> ath rip, this will be the last macro leg higher, you got about 3-4 more months to make as much money as possible. https:\/\/t.co\/Hqpfa28DvM<\/a> pic.twitter.com\/kZmO6D5we5<\/a><\/p>\n \u2014 Bluntz (@Bluntz_Capital) September 18, 2024<\/a><\/p>\n\n The post rate cut<\/a> pump has been largely predicted<\/a> but it remains to be seen whether crypto markets can build upon this momentum over the weekend.<\/p>\n Economist Alex Kr\u00fcger said<\/a> that historically when the Fed begins its easing cycle with no recession, equities have rallied 10% in six months, while if the central bank begins the cycle in a recession, equities have fallen by 12% before adding:<\/p>\n \u201cThis is bullish for bitcoin as well, but its path is heavily dependent on who wins the election.\u201d<\/p>\n Total market capitalization has gained $100 billion since the Fed rate cut decision and has now settled at $2.24 trillion at the time of writing, its highest level since late August.<\/p>\n Ethereum had reclaimed the $2,400 level after a 4.1% gain but was approaching resistance levels. The asset, which has been weak while battling a wave of FUD<\/a>, still has a long way to go and needs to clear resistance just above $2,500.<\/p>\n The altcoins were predominantly green at the time of writing, with larger gains for Solana (6%), Avalanche (9%), Bitcoin Cash (10%), and Near Protocol with 12% on the day.<\/p>\n The post Bitcoin (BTC) Price Reclaims $62K as Analysts Eye Upside Breakout<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BTC has gained almost 5% over the past 12 hours, topping $62,000 for the first time in more than three weeks. The asset climbed from an intraday low of $59,200 to tap $62,600 before retreating slightly during the Wednesday morning Asian trading session. In a post on X on Sept. 19, crypto analyst \u2018Nebraskangooner\u2019 called […]<\/p>\n","protected":false},"author":0,"featured_media":7982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7981"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7981"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7982"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC Approaching Resistance<\/h2>\n
Elsewhere on Crypto Markets<\/h2>\n