Bitcoin Price Prediction as BTC Bounces Above $66,000 – New Bull Run Starting?
Bitcoin (BTC/USD) demonstrates robust performance, with a notable price surge to $66,270, an uplift of approximately 2.50%. This positive momentum places Bitcoin’s trading dynamics in the spotlight, crucial for those monitoring Bitcoin price predictions.
As it surpasses the pivotal $64,853 mark, the digital currency may be poised for further gains, with key resistance levels emerging that could test the resilience of this uptrend. This scenario presents an interesting phase in Bitcoin’s market trajectory, making it a critical moment for investors and analysts alike.
In the early hours of Asian trading, the euro and yen have held steady, while the US dollar remains near recent highs, influenced by recent Federal Reserve statements and higher-than-expected inflation data. Attention is now turning to the Bank of Japan’s policy review as the yen hovers near a 34-year low against the dollar.
Meanwhile, the easing of Middle East tensions has reduced market volatility.
Currencies calm but cautious after a weary week https://t.co/V5gnq22mi0 pic.twitter.com/7Q6ZuMrWKC
— CNA (@ChannelNewsAsia) April 22, 2024
During the International Monetary Fund meetings, discussions reinforced the dollar’s dominance, affecting global currency dynamics. Notably, Bitcoin’s recent “halving” event could alter its supply and potentially impact its price trend.
Bitcoin miners are experiencing a significant windfall due to the introduction of the Runes protocol, which has pushed transaction fees to unprecedented levels, offsetting the decreased block rewards post-halving.
On April 20, transaction fees soared to $127.97, contributing to a record mining revenue of $107.8 million. The Runes protocol, enabling token creation directly on Bitcoin’s blockchain,
Read more on cryptonews.com
