Bitcoin is preparing to break a new record!

Bitcoin could well be on its way to reaching new all-time highs. According to the predictions of analyst Ali Martinez, the price of BTC should soon test the symbolic mark of $79,600, if it manages to maintain its current upward momentum.

A major bullish signal for the queen of cryptos

Defying bearish forecasts, Bitcoin has chained rallies since the start of the year, taking many analysts by surprise who were banking on a prolonged bearish trend.

With an increase of 15.29% last month, BTC now shows a gain of 81.5% since January, largely dominating other traditional asset classes.

According to'Martinez analysis dated this Sunday, June 2, while Bitcoin is moving around $66,800, if the crypto manages to maintain itself solidly beyond this threshold, it could begin a new dazzling rally to conquer the highly coveted objective of 79,600 $.

This threshold of $79,600 would represent a new all-time high for Bitcoin, surpassing its previous high of $73,700 reached in March 2024. Such a bullish scenario would illustrate the continued strength of the market despite global monetary tightening.

At the time of writing this article, bitcoin is trading around $69,100, showing a significant increase of 2% over the last 24 hours.

Technical analysis supporting Bitcoin’s uptrend

In terms of technical indicators, Bitcoin displays a clearly bullish bias. It is trading above its 200-day moving averages, a sign of positive medium-term momentum.

The sustained trading volumes also demonstrate the renewed appetite of investors for the main crypto.

In short, Ali Martinez's analysis, combined with current market trends, highlights the resilience and still immense potential of Bitcoin. All eyes are now turning towards this symbolic threshold of $79,600 or more, which the queen of cryptos seems determined to conquer in the weeks to come.