Bitcoin price had gained back its momentum early this month, after facing several turbulence over the last several months. However, the recovery of the price was surprisingly tremendous, as the digital coin achieved a new all-time high surpassing the benchmark level of $66k. However, after achieving a new all-time high, the price again plunged facing corrections below $60k. On Thursday, surprising the Bitcoiners, BTC price crossed $61k, as a $1.7k hourly candle dueled the Bitcoiners. Following the scenario, the experts in the industry opinionated a beginning of a bullish rally.
Bitcoin price sees another classic surge
Following the performance of Bitcoin price on Thursday, it seemed the flagship cryptocurrency suddenly abandoned the bears. According to data from TradingView, the leading crypto coin is breaking back above $60k after tracking sideways earlier on Wednesday. Following such a move, analysts deemed that the BTC/USD pair casts a firm doubt on recent bearish behaviour. However, the chart has invalidated a head-and-shoulders pattern in line with expectations.
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On the other hand, it is also observed that analysts were already unfazed by the coin designed by Satoshi Nakamoto’s correction. Indeed, the retracements were observed with some notable patterns that were even increasing the price targets over the longer timeframe. At press time, the funding rates remained low, the factor indicates successful flushing of leverage in recent days.
Bitcoiners are bullish over recent movements
Following such surprising bullish patterns, Bitcoiners become too excited. Following the scenario, the founder of Crypto-TA tweeted being happy with the current drop/discount. He also underscored that he was not bullish enough on the price level of $40k. However, he pointed to the first target at $73k. Moreover, he also believes that the target will move up to $90k and will face correction, after which the price will hit a new ATH at the level of $100k.
DOGE and SHIB seems dominating altcoins
As the Bitcoin price turned bullish, it poured some impact in the altcoin market as well. Top 10 altcoins were observed making gains of tremendous percentages. However, besides the major assets, it is observed that Shiba Inu (SHIB), one of the meme-based crypto companies, is dominating the market. Over the past seven days, the coin has gained more than 122%. However, altcoin advanced 43% on the day.
Notably, the SHIB’s spotlight subsequently shifted to the most popular meme-based cryptocurrency, DOGE. Following SHIB, Dogecoin put in a copycat move.