Here's what Bitcoin needs to head for a new price record
A prominent crypto analyst claims that Bitcoin (BTC) could use the help of the stock market to reach new highs.
DonAlt, who correctly predicted Bitcoin's bottom in 2022, said that the flagship cryptocurrency it may be getting ready to exit the consolidation phase and head for new all-time highs.
However, he claims that Bitcoin shows weakness relative to the stock market.
However, the analyst is positive tuned , that BTC could gain momentum after recently closing above an important support level on its weekly chart.
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Top 3 Reasons Why Bitcoin Could Return to $70,000 This WeekBitcoin's future price movement will depend on how the SP 500 performs, according to DonAlt:
If the SP does another "solar streak" like the one we had and Bitcoin closes at this level ($65,500), I actually think [the situation] will develop decently, even [expecting] new highs. But I think at this stage [BTC] is entirely dependent on whether the SP goes up.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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