{"id":651825,"date":"2024-11-06T14:00:29","date_gmt":"2024-11-06T14:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=651825"},"modified":"2024-11-06T06:57:45","modified_gmt":"2024-11-06T06:57:45","slug":"bitcoin-price-touches-75000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-touches-75000\/","title":{"rendered":"Bitcoin Price Touches $75,000 ATH: Analyst Says This Is What You Should Expect Next"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Bitcoin price hit a new <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-breaks-through-69000-setting-new-record\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">all-time high (ATH)<\/span><\/a><span style=\"font-weight: 400\"> as it surged past $73,700 and rose to as high as $75,000 on November 6. Following this development, crypto analyst Tony Severino has revealed what to expect next from the flagship crypto.\u00a0<\/span><\/p>\n<h2>Bitcoin Price Ready For \u201cFireworks\u201d After New ATH<\/h2>\n<p><span style=\"font-weight: 400\">In an X post, <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-strongest-bull-run\/\"><span style=\"font-weight: 400\">Tony Severino<\/span><\/a><span style=\"font-weight: 400\"> indicated that the Bitcoin price is ready to experience a parabolic rally, as he told market participants to expect fireworks above $75,000. The crypto analyst also revealed that Bitcoin was approaching the 2-week upper Bollinger Band while the bands are the tightest in history according to the BBWidth.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-bottom-100\/\">Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again?<\/a><\/div>\n<div>\n<figure id=\"attachment_651832\" aria-describedby=\"caption-attachment-651832\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-651832\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3.png?w=460&#038;resize=460%2C286\" alt=\"Bitcoin price\" width=\"460\" height=\"286\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-3.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-651832\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<\/div>\n<p><span style=\"font-weight: 400\">The accompanying chart, which the crypto analyst shared, showed that the Bitcoin price could rise to as high as $140,000, with the flagship crypto reaching a potential market top in 2025. Tony Severino had previously mentioned that Bitcoin was approaching the strongest part of the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-market-glassnode\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">bull run<\/span><\/a><span style=\"font-weight: 400\"> and explained how, based on historical trends, BTC could rise to as high as $133,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Indeed, the Bitcoin price looks to be entering the strongest part of the bull run following its rise to a new all-time high. This recent price rally to a new ATH is thanks to Donald Trump, who has been elected to become the next US president. This provides a bullish outlook for Bitcoin and the broader crypto market since the US president-elect has publicly declared his support for Bitcoin and other cryptocurrencies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Besides Trump coasting to victory, it is worth mentioning that the Bitcoin price has historically never been below the levels it was at on <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-presidential-elections\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">US presidential election<\/span><\/a><span style=\"font-weight: 400\"> days. Therefore, this is likely the lowest range the flagship crypto might trade at before it records the next parabolic leg of this bull run.\u00a0<\/span><\/p>\n<h2>A Fed Rate Cut Is Also On The Way<\/h2>\n<p><span style=\"font-weight: 400\">In addition to Donald Trump&#8217;s victory, some other catalysts are lined up to spark the next leg of the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-run-market-top\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin bull run<\/span><\/a><span style=\"font-weight: 400\">. One is a possible Fed rate cut that is expected to come on November 7, which is bullish for the Bitcoin price. The US Federal Reserve begins its FOMC meeting today and will decide on a rate cut by tomorrow.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-whales-2-10-billion\/\">Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought<\/a><\/div>\n<p><a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html?redirect=\/trading\/interest-rates\/countdown-to-fomc.html\" rel=\"nofollow\"><span style=\"font-weight: 400\">CME Fedwatch data<\/span><\/a><span style=\"font-weight: 400\"> shows a 97.6% chance the Fed will cut interest rates by 25 basis points (bps). This provides a bullish outlook for the Bitcoin price as more capital is set to flow into its ecosystem. Institutional investors are also on the sidelines as they will likely invest more money in the <\/span><a href=\"https:\/\/bitcoinist.com\/spot-bitcoin-etfs-demand-btc-below-70000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\"> after the US elections and a Fed rate cut.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at around $74,500, up over 9% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/MfxPb6i3\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">BTC price reaches new ATH | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price hit a new all-time high (ATH) as it surged past $73,700 and rose to as high as $75,000 on November 6. Following this development, crypto analyst Tony Severino has revealed what to expect next from the flagship crypto.\u00a0 Bitcoin Price Ready For \u201cFireworks\u201d After New ATH In an X post, Tony Severino indicated that the Bitcoin price is ready to experience a parabolic rally, as he told market participants to expect fireworks above $75,000. The crypto analyst also revealed that Bitcoin was approaching the 2-week upper Bollinger Band while the bands are the tightest in history according to the BBWidth.\u00a0 Related Reading: Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again? The accompanying chart, which the crypto analyst shared, showed that the Bitcoin price could rise to as high as $140,000, with the flagship crypto reaching a potential market top in 2025. Tony Severino had previously mentioned that Bitcoin was approaching the strongest part of the bull run and explained how, based on historical trends, BTC could rise to as high as $133,000.\u00a0 Indeed, the Bitcoin price looks to be entering the strongest part of the bull run following its rise to a new all-time high. This recent price rally to a new ATH is thanks to Donald Trump, who has been elected to become the next US president. This provides a bullish outlook for Bitcoin and the broader crypto market since the US president-elect has publicly declared his support for Bitcoin and other cryptocurrencies.\u00a0 Besides Trump coasting to victory, it is worth mentioning that the Bitcoin price has historically never been below the levels it was at on US presidential election days. Therefore, this is likely the lowest range the flagship crypto might trade at before it records the next parabolic leg of this bull run.\u00a0 A Fed Rate Cut Is Also On The Way In addition to Donald Trump&#8217;s victory, some other catalysts are lined up to spark the next leg of the Bitcoin bull run. One is a possible Fed rate cut that is expected to come on November 7, which is bullish for the Bitcoin price. The US Federal Reserve begins its FOMC meeting today and will decide on a rate cut by tomorrow.\u00a0 Related Reading: Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought CME Fedwatch data shows a 97.6% chance the Fed will cut interest rates by 25 basis points (bps). This provides a bullish outlook for the Bitcoin price as more capital is set to flow into its ecosystem. Institutional investors are also on the sidelines as they will likely invest more money in the Spot Bitcoin ETFs after the US elections and a Fed rate cut.\u00a0 At the time of writing, the Bitcoin price is trading at around $74,500, up over 9% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":650393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-651825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Touches $75,000 ATH: Analyst Says This Is What You Should Expect Next<\/title>\n<meta name=\"description\" content=\"The Bitcoin price hit a new all-time high (ATH) as it surged past $73,700 and rose to as high as $75,000 on November 6.\" \/>\n<meta name=\"robots\" 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