Bitcoin price set up a new all-time high of $69,210 on March 5 on the BitStamp exchange. Since then, BTC volatility seems to have dried up, leaving it consolidating above the $61,782 support level. On-chain metrics show a very bullish outlook for the pioneer crypto, further adding credence to the ongoing rally. Bitcoin price shows clear signs of bullishness as it hovers around its new formed all-time high of $69,210.
The imbalance zone extending from $59,313 to $53,015 will be a good place to accumulate should BTC ever dip to that low. For now, investors speculate that the latest rally move is mostly driven by institutional flows stemming from the approval of the ETFs and that retail capital is not here yet. So, when retail investors do step in, the FOMO-driven rally in Bitcoin price could propel it toward $100,000.
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