Bitcoin has recently achieved a 3-week high, currently trading near $64,000. This surge is attributed to potential Federal Reserve rate cuts and the forthcoming US election, which are seen as favorable conditions for Bitcoin's growth.
If Bitcoin manages to break the $65,000 resistance level, it could pave the way for further gains. Market conditions also suggest the possibility of a short squeeze, where rapid price increases compel short sellers to cover their positions.
Analysts remain optimistic about Bitcoin potentially reaching new all-time highs before the year concludes. The cryptocurrency is currently approaching the crucial $65,000 mark, indicating strong momentum in the market.
