price surged to a fresh 3-month high today after hitting $47,765. The BTC price is now trading very close to the 2021 high of $47,989, set on January 02.
The worlds largest cryptocurrency is up roughly 27% in the past two weeks after recording six consecutive green daily candles.
For Bloomberg strategist Mark Cranfield, the ongoing push higher may signal Bitcoin is ready to hit fresh all-time highs.
“Bitcoin futures burst out above the triangle pattern flagged last week and a simple projection suggests there could be new highs for the contract in the weeks ahead. The depth of the triangle measures ~$19,000, which for some momentum traders will equate to an advance toward last November’s peak or even higher. Moreover, there has been a jump in turnover and open interest which coincided with last weeks breakout. That suggests punters are moving off the sidelines and joining the bullish view. This is a stealth rally which may have some way to run,” Cranfield wrote.
Other major cryptocurrencies including , also rose, with the second-largest cryptocurrency surging to $3,358 today, its highest point since early February.
Altcoins including , , and also climbed, as well as meme coins and .
By Senad Karaahmetovic
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.