Bitcoin Approaches $68,000

On October 15, Bitcoin surged past $67,000, momentarily reaching $67,950.

October 15, 2024 | 17:43Update:

after reaching $67,950, Bitcoin began to decline, falling below $66,000. At one point, the cryptocurrency dropped to $65,150.

The price increase was accompanied by a rise in trading volume. The top 10 crypto assets showed moderate growth.

The total market capitalization increased by 2.7% to $2.446 trillion. The dominance index for BTC is 54.6%, and for ETH, it is 13.2%.

Technical analyst Ali Martinez noted the formation of a new higher high on the chart, indicating the end of a local downtrend.

Looks like a higher high: #Bitcoin pic.twitter.com/qlTEk0Cem7

— Ali (@ali_charts) October 15, 2024

Experts at CryptoQuant recorded a sharp increase in demand for Bitcoin.

There has been a spike in #Bitcoin demand, growing at the fastest monthly pace since April 2024. pic.twitter.com/gps0pwgVvH

— CryptoQuant.com (@cryptoquant_com) October 14, 2024

The Fear and Greed Index indicates investor optimism, standing at 65.

The volume of liquidated margin positions in the last 24 hours amounted to $266 million, with $170 million in sales.

Bernstein has linked the Bitcoin rally to the increasing chances of a Trump victory. Standard Chartered noted the potential for Bitcoin to return to its ATH before the US elections.