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- 📢 Gate Square #Creator Campaign Phase 2# is officially live!
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#BTC# #ETH# #BNB# #SOL# #HALVING#
#ATH# #ETF# #MEME# #PEPE# #DOGE#
Trajectory toward $80,000: 5 key takeaways about Bitcoin this week
BTC price increases soar ahead of Wall Street's open, while CPI week seems to set the tone for Bitcoin's upcoming halving.
Bitcoin kicks off the second week of April in classic bull market fashion with a surge above $70,000.
The largest cryptocurrency, which spent the weekend slowly rising, is capitalizing on its gains to get closer and closer to all-time highs.
Ahead of Wall Street's first opening, anticipation for a further upside is already tangible in trading circles — will BTC's price momentum be able to live up to expectations?
There's certainly a sense of déjà vu in crypto this week — a result of pent-up excitement after several weeks of corrective moves.
However, volatility, both to the upside and to the downside, could continue. Bitcoin's next block reward halving is just ten days away, and miners are in the final stages of preparing for the 50% reduction of the block reward overnight.
Therefore, the network's fundamentals are key to keep a close eye on in the future as difficulty is expected to reach new all-time highs this week.
On the other hand, macroeconomic sentiment is calm as markets dismiss the chances of a quick interest rate cut by the US Federal Reserve.
Cointelegraph examines these topics and more in its weekly roundup of key BTC price topics to monitor in the coming days.
BTC price hits $72,000 at the start of the week
Bitcoin wastes no time in trying to regain lost ground below all-time highs this week.
The weekly close, which hovered around $69,000, followed an uncharacteristic weekend in which BTC/USD slowly rose — despite the absence of institutional players.
However, the real move came later, with the trading session in Asia witnessing sudden upward volatility that, at the time of writing, had reached $72,573 on Bitstamp.
Bitcoin was already up 2.5% on the day, according to data from Cointelegraph Markets Pro and TradingView.
Source: Cointelegraph