Bitcoin () has hit a new all-time high in U.S. dollars as a long-awaited surge pushes BTC/USD into price discovery.
Bitcoin back in price discovery
Data fromand showed Bitcoin breaching the $64,900 ceiling in place since April.
On the second day of trading for theProShares Bitcoin Strategy ETF, BTC/USD again surged ahead of the U.S. open — a practice that has characterized the pair in recent days.
The halls of eternity echo with the cries of those who sold their.
— Michael Saylor⚡️ (@saylor)
This week has already seen all-time highs for Bitcoin against several major fiat currencies,the euro.
As Cointelegraph, expectations remain for even higher levels to hit in the coming weeks and months, these interspersed by brief corrections to establish new support levels.
The highest estimates for the short term currently center around as much as.
«Bitcoin season» in full swing
Various data supports the idea that Bitcoin’s time to shine will precede altcoins, which continued to suffer against BTC on the day.
With Bitcoin’s market cap dominance at its highest since May — 47.4% according to CoinMarketCap records — popular traders were already warnin that now was not the time to focus on an alt-heavy portfolio.
So many alt/btc pairs look like they want to break down/ at dynamic long term support line looks like it’s in a bear flag. Many have made macro LL’s
This is great bc of the ability to compound riding BTC up to new ath then alts back up. 2 for the price of one
— Pentoshi Won’t Dm You. hates Dm’s. DM’s are scams (@Pentosh1)
Estimates currently state that theshould produce a turnaround in altcoins’ fortunes.