Bitcoin News

Bitcoin Bulls Build Strong Foothold At $60K Support, BTC Price To Rally?

Bitcoin's resilience above $60K support signals a potential BTC price rally, buoyed by strong accumulation by the bulls.
Published by
Bitcoin Bulls Build Strong Foothold At $60K Support, BTC Price To Rally?

Highlights

  • Bitcoin holds firm above $60K, sparking speculation of a potential bullish rally.
  • Analysts note significant accumulation at key support levels, signaling investor confidence.
  • Despite recent fluctuations, optimism prevails with strong institutional interest.

Bitcoin, the flagship cryptocurrency, is once again capturing the attention of investors as it holds strong above the $60,000 support level. Notably, analysts are keeping a close watch on this crucial juncture, especially with notable accumulation noted within this price range.

Despite the recent fluctuations in BTC price, Bitcoin’s resilience at this level signals potential bullish momentum ahead.

Advertisement

Bitcoin Bulls’ Firm Support At $60K

Bitcoin’s recent surge above the $60,000 mark has set the stage for potential bullish momentum in the crypto market. Notably, prominent crypto analyst Ali Martinez observes a strong foothold at this critical support level, indicating robust investor confidence. However, as the rally momentarily pauses, questions arise about the future trajectory of Bitcoin’s price.

Meanwhile, Ali Martinez highlights a significant accumulation zone for Bitcoin, with over 1 million addresses purchasing substantial amounts of BTC between $60,334 and $62,155. This influx of buying activity underscores a solid foundation of support for BTC, potentially shielding it from further downward pressure.

Source: Ali Martinez, X

Besides, Martinez’s chart analysis emphasizes the resilience of Bitcoin’s price, buoyed by widespread investor confidence in the digital asset’s long-term prospects. The accumulation of BTC at key price levels signals a bullish sentiment, suggesting that market participants view current prices as attractive for investment.

Also Read: Binance Faces $10B Fine Amid Nigeria’s Crypto Crackdown

Advertisement

Price & Performance Amid Recent Flux

Bitcoin experienced a meteoric surge earlier in the week, crossing the $60K threshold for the first time since November 2021, and rallying to $64K. However, the momentum has soon cooled off, with the crypto witnessing a reversal track. Despite this, the cryptocurrency remains resilient, trading near the $62K mark at the time of writing.

The recent BTC crash has sparked speculation and uncertainty among market participants. However, many analysts remain optimistic about BTC’s long-term trajectory, citing strong fundamentals and institutional interest as key drivers of its continued growth.

For instance, the ongoing strong inflows into Bitcoin ETF and the upcoming Bitcoin halving have fuelled the confidence of the investors. Despite legal uncertainties and other hovering concerns in the market, the bulls seem to have remained optimistic about the crypto’s future trajectory.

Now, the market participants are closely monitoring Bitcoin’s behavior around the $60K support level, viewing it as a critical indicator of market sentiment. A sustained hold above this level could pave the way for further upside potential, potentially propelling Bitcoin towards new all-time highs in the near future.

Bitcoin Price

Notably, as of writing, the Bitcoin price was down 1.55% over the last 24 hours and traded at $61,967.54, while its trading volume also dipped 42.45% to $52.74 billion. Notably, Bitcoin has hit a high of $63,913.13 and a low of around $50K this week, reflecting this week’s meteoric surge.

Also Read: Crypto Hackers Drain $105 Mln With Over 20 Attacks In February

Advertisement
Share
Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

$7B Virtu Financial Holds $63M XRP as Whales Accelerate Daily Sell-Off

Virtu Financial, a $7 billion Wall Street firm, has revealed $63 million in XRP holdings.…

November 1, 2025
  • News

Breaking: Coinbase Nears $2B Deal to Buy Stablecoin Platform BVNK

Coinbase is reportedly closing in on a $2 billion acquisition of stablecoin infrastructure startup BVNK.…

November 1, 2025
  • News

Coinbase CLO Fires Back at Senator Murphy Over ‘Corruption Factory’ Claim

Coinbase’s Chief Legal Officer, Paul Grewal, has publicly criticized U.S. Senator Chris Murphy. The lawmaker…

November 1, 2025
  • News

Crypto Prices Rise: Why Are BTC, ETH, LTC, XRP, SHIB, and ADA Up Today?

Major crypto prices saw solid gains after a week of downturns. Bitcoin, Ethereum, Litecoin, XRP,…

November 1, 2025
  • News

Michael Saylor’s Strategy Eyes S&P 500 Spot Amid Bitcoin-Backed Credit Products Launch

Michael Saylor’s Strategy is setting its sights on the S&P 500 as it pushes forward…

October 31, 2025
  • News

Bitcoin White Paper Turns 17 Today as Satoshi’s $120B Fortune Climbs $2.8 Billion

Seventeen years ago today, Satoshi Nakamoto emailed a nine-page document that changed the world. It…

October 31, 2025