Bitcoin Price Will Soon Hit $86K If THIS Happens

In the rollercoaster ride of the cryptocurrency world, the last 24 hours have been surprisingly stable. Even as Bitcoin teeters on the edge of a bullish flag, the market holds its ground.

Bitcoin’s value against the US dollar has dipped slightly, struggling against a tough resistance at around $67,200. Yet, this hasn’t deterred short-term investors from exploring other options. They’re shifting their focus to altcoins, seeking potentially higher returns. Consequently, Bitcoin’s dominance has taken a slight dip, now hovering around 55 percent after the recent halving event.

Altseason Soon?

The ETH/BTC pair on the weekly and hourly time frames has formed a reversal pattern that favors an altseason ahead. Some altcoins to pay attention to include Binance Coin (BNN), NEAR Protocol (NEAR), and meme coins.

High-Impact Events Ahead

The global cryptocurrency community will be graced with the trading of spot BTC ETFs in Hong Kong. The approval of spot BTC ETFs in Hong Kong will add to the bullish sentiment triggered by the U.S.-based similar approval. 

Amidst the crypto buzz, all eyes are on the impending release of the third Federal Funds Rate. Market experts predict that the Fed will maintain its benchmark interest rate, but whispers of potential cuts later in the year linger in the air.

Also Check Out: When to Expect Bitcoin’s Bull Market Highs: A Post-Halving Analysis

Key BTC Levels to Watch Ahead

In the midst of these developments, the insights of Captain Faibik, a respected crypto analyst, provide clarity on Bitcoin’s path. Armed with technical know-how, Faibik sees Bitcoin hoisting a bullish flag in preparation for its next surge.

With Bitcoin already breaking records at $74,000 last month, Faibik foresees a retracement to support levels around $61,000 before catapulting to new all-time highs, potentially exceeding $86,000.

Did You Know: Japanese Investment Firm Metaplanet Announces Purchase of Bitcoin Worth ¥1 Billion