Bitcoin Price Analysis: Bullish Momentum Eyes $69K Amid SEC Hack and Low Exchange Reserves
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...
Bitcoin price is showing strong upward momentum, currently trading at around $68,000, supported by a solid 50-day EMA near $67,500.
This upward channel has strengthened the bullish sentiment, with traders eyeing potential resistance levels around $69,140.
Key factors such as institutional interest and tightening exchange reserves are adding to Bitcoin’s potential for further gains, making it a focal point for investors looking to capitalize on the ongoing price rally.
Eric Council Jr., a man in his mid-20s from Alabama, has been arrested by the FBI for allegedly hacking the SEC’s X (formerly Twitter) account to manipulate bitcoin prices. In January, Council posted false information claiming that bitcoin exchange-traded funds (ETFs) were approved, causing bitcoin to spike by $1,000.
JUST IN:
Read more on cryptonews.com
