Bitcoin has surged past the $60,000 threshold, indicating a shift in market sentiment as selling pressure subsides. The cryptocurrency experienced a 15% rebound from a low of $52,590 on September 6, alleviating market fear.
Analyst Captain Faibik predicts Bitcoin will reach $68,000 by the end of September and $90,000 by December. He highlights that closing above $60,000 is crucial for Bitcoin's bullish momentum. Faibik's analysis indicates a bullish breakout by Q4 2024, supporting his optimistic forecast.
Bitcoin's rise coincides with expectations of a US Federal Reserve interest rate cut and MicroStrategy's $1.1 billion purchase of 18,300 BTC. Another analyst, Rekt Capital, emphasizes the importance of Bitcoin holding the 21-week exponential moving average at $60,550 to maintain upward momentum.
