Bitcoin Surges Past $75K as Analyst Declares Bull Market Has Begun
Bitcoin's price has skyrocketed past $75K in just two days, with some analysts declaring that the bull market has officially begun. This sudden surge comes after weeks of stagnant trading, where Bitcoin failed to break through the $65K barrier despite multiple attempts.
The turning point came on Wednesday afternoon when Bitcoin experienced a 12% jump in 24 hours, breaking through the $70K and $72K resistance levels. It has since settled at around $75,000 as of press time.
According to analyst Ali Martinez, Bitcoin now has 'no resistance' after building strong support between $62,000 and $63,000. If it manages to break through the $75,733 level, the next major supply cluster appears all the way up at $83,300.
Many altcoins have also seen significant gains, with Ethereum rocketing from $1,900 to almost $2,400, while XRP has successfully defended its $1.00 support and now sits 30% above it.