Bitcoin has been steadily approaching its highest daily close in over a week, with the current price hovering just below the $72,000 mark.
The weekly close above $70,000 would mark a significant milestone for the cryptocurrency, potentially reclaiming key support levels and solidifying its position above long-term trend lines.
Market analysts are cautiously optimistic about the potential for a relief rally, but acknowledge that geopolitical risk remains a concern. With macro turmoil still playing out, some experts predict that Bitcoin may experience a slight pullback before continuing to grind upwards towards resistance at $75-80K.