Bitcoin Eyes New ATH as Bulls Return – Is Bitcoin Hyper Set to Follow?
The post Bitcoin Eyes New ATH as Bulls Return – Is Bitcoin Hyper Set to Follow? appeared on BitcoinEthereumNews.com.
All signs point to a new ATH for Bitcoin despite current struggles due to whale activity and movement from a dormant wallet. Bitcoin ($BTC) is facing resistance around the $109K mark as market watchers react to renewed whale activity and unexpected moves from a long-dormant wallet. Still, momentum is building, and all signs point to an imminent breakout that could send Bitcoin soaring to a new all-time high. When that moment hits, Bitcoin-linked tokens like Bitcoin Hyper ($HYPER) are poised to ride the wave, delivering major upside for early holders. Why a New ATH is on the Horizon for $BTC Bitcoin had a turbulent day yesterday as it edged closer to its all-time high of $111,000. The momentum, however, was met with a wave of uncertainty after reports surfaced that long-time whales offloaded a staggering 500,000 BTC (worth over $50 billion) over the past year. Adding fuel to the fire, a dormant wallet suddenly sprang to life, moving 10,000 BTC (approximately $1.09 billion) after years of silence. This rare activity stirred concern across the market, triggering speculation about profit-taking and potential sell pressure. Bitcoin is hovering just below $109,000, down 0.81% over the last 24 hours as investors weigh bullish momentum against the shadow of heavy distribution. Despite that, bullish traders still outnumber bearish ones, according to CoinMarketCap. After all, about a quarter of the total $BTC supply is now in the hands of institutional investors, giving the crypto plenty of room for a pullback. This sentiment is also clearly reflected in asset manager BlackRock’s fairly new spot Bitcoin ETF (IBIT), which overtook its 25-year-old S&P 500 ETF (IVV) in annual revenue. Just days after its launch in January 2024, IBIT’s inflows have already reached $2B, making it the fastest ETF ever to hit this value. Then there’s ‘Crypto Week’…
