As U.S. markets began on Nov. 16, Bitcoin (BTC) hit $60,000 as support after a weekend rally ended in a pullback. The price of Bitcoin is expected to rise in the near future, according to analysts.
BTC/USD gave back a part of its overnight gains after hitting local highs above $66,000, according to data from Cointelegraph Markets Pro and TradingView.
In a break from recent patterns, the pair failed to climb further into the opening of Wall Street trade, instead of aiming for April’s previous all-time high.
Cointelegraph contributor Michaël van de Poppe, stated that higher levels were more important in order to preserve overall bullish momentum in the short term.
Other signs drew attention, indicating that there may be a lot more room for price growth before conventional cycle peak signals appear.
Philip Swift, author of the climate of early 2021 by highlights the spent output profit ratio (SOPR).
Tesla Stocks Drop After Musk’s Twitter Warning
Tesla (TSLA) plunged nearly 3% on traditional markets when the U.S. markets opened, a move that, like the same time last week, drew copycat behavior from Bitcoin in particular.
Elon Musk, the CEO of Tesla, vowed to increase his stock sell-offs in a furious Twitter exchange with Vermont lawmaker, Senator Bernie Sanders.
This drop-in Tesla’s shares also affected