
As bitcoin approaches $73,000, enthusiasts and traders are closely following this dizzying rise. After a period of consolidation, acceleration to new highs appears imminent. However, to achieve this potential All-Time High (ATH), the market could see some necessary adjustments.

Towards a historic record: the rise of bitcoin
The appeal of Bitcoin has continued to grow in recent years, despite notable fluctuations. Today, with a price approaching $73,000, many are wondering if this iconic cryptocurrency is not crossing a historic threshold.
The week started strong with BTC/USD climbing 4%, supported by bullish momentum that continued to intensify after Wall Street opened on October 29.
For analysts, this meteoric rise could well herald a new all-time high, but some warn: a technical decline is likely before Bitcoin flies towards this ATH. Keith Alan, from Material Indicators, emphasizes that this “test of support” would consolidate the position of BTC, thus strengthening the foundations of this progression.
As liquidity concentrates around $70,000, observers note diminished resistance on the sellers' side, a strong signal for investors.
This strategic repositioning reflects increased confidence, although caution remains in order: any break of support could lead to a temporary correction before a new upward surge.
A convergence of catalysts to propel Bitcoin
Several geopolitical and macroeconomic factors could work in favor of Bitcoin in the coming weeks.
Expectations related to upcoming unemployment figures in the United States, for example, are being scrutinized by traders who believe that favorable data could give BTC a boost.
Michael van de Poppea recognized analyst, even thinks that “this week could well be that of the ATH”.
This anticipation comes with a broader perspective, including the US presidential elections, the rise of Bitcoin ETFs and strong stock market performance.
These elements fuel increased volatility and incentivize market participants to take positions, as evidenced by high levels of perpetual open interest on exchanges, reaching annual records.
The market therefore seems ready for an ascent, although each movement remains conditioned by sensitive macroeconomic data, capable of changing the price in the blink of an eye.
A feverish wait for the return to price discovery
The return to discovery of Bitcoin prices, after a long period of stabilization, is captivating investors and cryptocurrency enthusiasts. Josh Rager, popular trader and analyst, sums up this mood well by saying that he expects “a breakout of the ATH, followed by a pullback, then a sustained rise.” This forecast reflects the cautious approach taken by many players, aware of the challenges associated with BTC volatility.
With an optimistic positioning, reinforced by solid catalysts and a growing interest in digital assets, Bitcoin could well reach a major milestone in the coming days.
However, each progression brings its share of uncertainties: a decline could be as much a buying opportunity as a test of the market's resilience. For fans of cryptocurrency, the week promises to be exciting, punctuated by the wait for a potential historic record and the quest for stability of bitcoin.
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