Several documents have been pointed to the inevitable approval of Valkyrie’s Bitcoin exchange-traded fund, or AND F. This sparked major optimism, bordering on euphoria in the cryptocurrency market, as the request would be approved by the United States Securities Exchange Commission before the end of the month.

According to data obtained from TradingView and Cointelegraph Markets Pro, price action for BTC was shown to rise in the early hours of trading on Friday, with market bulls managing to reach an intraday high at $ 61,880 – this which marks the first time the cryptocurrency has exceeded $ 60,000 since April.

Bitcoin On the brink of a massive breakout

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According to Rekt Capital, a pseudonymous cryptocurrency analyst and popular Twitter user, Bitcoin’s move on October 15 has its trade just below a major resistance level that will be the very last hurdle that will keep it from climbing. fall into hitherto unexplored territory.

From the point of view displayed, if the cryptocurrency manages to bring its price to a weekly close above a certain level, there is this potential for an exponential rise as price discovery will not be hampered by the creation of zones. resistance previously put in place as the market bulls attempt to meet demands for a BTC price of $ 100,000.

A more practical perspective on recent Bitcoin price action was presented by pseudonymous Twitter user and crypto trader Pentoshi, who said the cryptocurrency has now passed the lowest macro since its peak and started to create lows and highs lower. Currently, the cryptocurrency has created appearances to form a new trend of higher lows and highs.

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Currently, the overall cryptocurrency market cap stands at $ 2,443 billion with Bitcoin’s dominance rate set at 46.4%.

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