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Cryptocurrency News Articles
Bitcoin (BTC) Markets Are Trading Relatively Flat After Their Run Above $70000
Oct 31, 2024 at 04:00 am
Notable Statistics: Bitcoin (BTC) $70,745.54 -2.02% Ethereum (ETH) $4,744.23 -1.65% Binance Coin (BNB) $624.33 -1.13%
Cryptocurrency markets are displaying relatively flat activity on Friday, following Bitcoin’s brief surge above the $71,000 level.
After hitting highs of $71,364 on Thursday, according to CoinMarketCap, Bitcoin prices dropped 2% in a single day but held on to $71,000.
Bitcoin 1-hour chart. Source: TradingView
Crypto trader Javon Marks highlighted the one-hour chart setting up in a bull flag pattern just below the All-Time Highs.
“A surge into new, unprecedented heights can be in development,” Marks predicted.
Meanwhile, crypto chart analyst Ali Martinez highlighted Bitcoin performance over the last three U.S. presidential elections.
“I don't think this time will be different,” Martinez said.
Bitcoin ETF inflows are chasing all highs, with $900 million pushing Bitcoin towards a new peak, according to Michael van de Poppe.
“I think there's more upside coming in the coming period with a constant flow of interest.”
What’s Next: The influence of Bitcoin as an institutional asset class will be explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Don’t Miss: Bitcoin, Ethereum Price Action Trades Flat Ahead Of Key Inflation Data
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