Bitcoin (BTC) trades close to $66,000 on Monday. The largest asset by market capitalization has noted a steady increase in its demand among traders since April 2024, according to data from crypto intelligence tracker CryptoQuant.
Bitcoin price today: $65,975 Bitcoin price gains 5% on Monday as data shows demand for BTC growing at fast pace since April. BTC Spot ETFs noted $257 million of inflows on October 14. Bitcoin trades under $66,000, less than 12% away from the all-time high of $73,777. BTC needs to close the week above $66,849 to break to the upside of the descending channel. Bitcoin trades close to $66,000 on Monday.
line above the signal line as this confirms a trend reversal. The Relative Strength Index reads 56, above the neutral level and well below the overbought zone at 70. BTC/USDT weekly chart On the daily time frame, BTC is 11.94% away from its all-time high. The asset faces resistance at two key levels, $70,011 and $66,849. Both these levels have acted as key resistance for BTC for nearly six months now.
shows there is underlying positive momentum in BTC on the daily time frame, and RSI is at 63, above the neutral level of 50. BTC/USDT daily chart If Bitcoin fails to close above the October 12 low of $62,457, it could invalidate the bullish thesis for BTC. The asset could collect liquidity in the Fair Value Gap between $61,321 and $62,457.
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