After a brutal -13.5% dip in mid-September, Bitcoin roared back, achieving a fresh all-time high of $125,700 on October 5th. This historic surge confirms the market's long-term conviction, fueled by institutional buying and a collapsing supply on exchanges (now at a six-year low).
Now in consolidation, traders are zeroing in on the ultimate resistance test: $126.5K. Clearing this level would validate the momentum, but failing to do so could lead to a drawn-out battle. The overall bullish picture is reinforced by the fact that even after this ATH, many analysts believe "most people still don't even know what Bitcoin is," suggesting huge upside remains.
0 Comments