Bitcoin Slams Metrics ATHs After Cracking $65K, Bulls Ready For More Profits?
Bitcoin has been rejected in the high area around its current levels and trends to the downside in the daily chart. At press time, BTC’s price has slide back into early week levels trading at $62,668 with a 5.1% loss in the daily chart.
The bullish sentiment remains as Bitcoin has been able to retain its profits in higher timeframes. The benchmark crypto smashed its previous all-time high at $65,000 and roared its way up to the $68,000.
Analyst John Wick believes Bitcoin could follow a similar trajectory as in 2017. BTC performance has been imitating the price action at that time with a similar ATH breakout and continuation of the bullish trend.
On this rally, Bitcoin has managed to break several all-time highs in its indicators. The upwards trend has been propelled by the launch of a BTC-link ETF in the United States.
This investment product tracks the price of Chicago Mercantile Exchange (CME) futures contracts. Thus, many traders are looking into Bitcoin’s Open Interest has it made its way up with the price of the underlying asset.