Bitcoin's recent price increase of 2% aligns with a broader cryptocurrency uptrend. On-chain data supports a potential rise to $67,000, driven by bullish buying activity.
The taker-buy-sell ratio has reached 1.19, suggesting strong market demand, as seen in reduced BTC deposits to exchanges. This indicates investor confidence in Bitcoin's value, with fewer coins being held for short-term trading.
Increased holding periods further signal a bullish outlook, with many expecting price growth. Current trading is at $64,315, and surpassing $63,289 resistance could clear the path to $67,078 and potentially $71,906.
The sustained bullish trend depends on continuous buying momentum; any rise in selling pressure could push prices to $60,627, challenging the forecast.
