BTC bulls get 'biggest signal' — 5 Things to know in Bitcoin this week
Bitcoin (BTC) reached new multimonth highs, hitting $105,706 on Bitstamp amid heightened volatility influenced by US trade tariffs. The price action indicated potential upcoming significant movements, with traders noting a bullish MACD cross, reminiscent of October 2024. Despite the gains, Bitcoin failed to secure a breakout above key resistance at $104,500, closing the weekly candle around $104,100. Upcoming macroeconomic data, including the Consumer Price Index (CPI) and Producer Price Index (PPI), is expected to create further volatility. Over 98% of Bitcoin supply is currently held in profit, raising concerns about potential distribution risks. The market sentiment remains less greedy at current price levels compared to previous highs, suggesting more sustainable growth. Google Trends indicate a decline in mainstream retail interest in Bitcoin, despite its proximity to all-time highs.
