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Bitcoin has soared to a new peak for 2024, touching $64,100, and wrapping up February with a staggering 45% increase—its most impressive monthly performance since December 2020. This marks the cryptocurrency’s sixth consecutive month of gains. The surge is largely attributed to a significant influx of investors, who have shown keen interest in Bitcoin, particularly within a crucial price bracket.
Crypto analyst Ali, referencing IntoTheBlock data, notes that Bitcoin is currently supported by a solid base, with over 1 million addresses having acquired upwards of 671,000 BTC between $60,334 and $62,155. This buying spree underscores a robust confidence among investors, setting a strong foundation that may mitigate potential declines.
As Bitcoin navigates forward, it approaches a vital challenge within the $63,282 to $67,413 range. Here, nearly 48,440 BTC were purchased by 193,230 addresses, averaging a buy-in at $65,164. This level indicates a pivotal moment for Bitcoin, hinting at sustained investor interest and potential for further growth.
