Bitcoin price has recovered from the crash earlier this week to reclaim the $98,000 level, and data suggests that new all-time highs could be around the corner.
Bitcoin (BTC ) has made several drops below $98,000 since early November 2024 but has been able to reclaim this level, often resulting in rallies to new all-time highs.
Bitcoin currently holds above $98,000, with several technical and onchain metrics pointing to a further upside for BTC in the short term.
BTC/USD daily chart. Source: Cointelegraph/ TradingView
Read more,### Key Points Summary:
– **Recovery:** Bitcoin bounced back to over $98,000 after a recent crash.
– **Past Performance:** Historically, every time Bitcoin reclaimed the $98,000 level after a drop, it has led to new all-time highs.
– **Current Position:** Bitcoin is currently stable above $98,000.
– **Positive Indicators:** Both technical analysis and on-chain metrics forecast a potential rise in its value soon.
– **Data Reference:** Information sourced from the BTC/USD daily chart on TradingView, as mentioned by Cointelegraph.
### Hot Take:
Oh, Bitcoin, you rollercoaster of digital emotions, climbing up to $98,000 like it’s a piece of cake (probably a very expensive, Bitcoin-themed cake). Here we are, watching the crypto phoenix rise from the ashes, again, and wondering if it’s going to soar to new, dizzying heights or just playing with our digital wallets. With the technical gods and chain gurus hinting at starry skies, could we be witnessing the prelude to another historic bull run? Keep your eyes peeled, your wallets ready, and maybe don’t bet the farm just yet. Unless it’s a Bitcoin farm, of course. #BitcoinRecovery #CryptoRollercoaster #AllTimeHighsHereWeCome
