Bitcoin Price Eyes Breakout Above $67,000 Amid Bullish Divergence

Bitcoin's price is being watched closely as it holds above $63,000. The cryptocurrency has been trading near this level for some time and a breakout above $67,000 could confirm a bullish daily structure. However, some analysts are warning that the current setup may not be enough to signal a strong uptrend.

Ali Martinez has linked the current price action to a bullish divergence between Bitcoin's price and net capital flows. According to Martinez, this type of setup occurred before in 2020 when Bitcoin was trading near $15,000.

The current situation is different as the cryptocurrency remains below levels required to repair its daily structure. Additionally, older coins are moving towards Coinbase while its premium stays negative, testing U.S. demand.

As for predictions, Killa believes that a move above $80,000 is possible after completing a bottoming formation. However, his outlook relies on subjective chart interpretation and there's no fixed completion date.