Bitcoin is experiencing a short-term bullish trend, nearing a significant resistance level, as noted by analysts. The largest cryptocurrency is showing signs of being overbought and is starting to cool off.
The recent price surge could be attributed to positive inflows into Bitcoin ETFs, particularly observed on Thursday. Analysts suggest that this trend might help Bitcoin hit the new price targets of $73,000 and $74,000.
Despite the positive outlook, caution is advised due to the potential overbought conditions, which might lead to corrections.
