BTC nears all-time high on stable indicators... Further upside to $80.4K possible

According to Cryptoslate, crypto research firm K33 Research has released a report stating that Bitcoin is nearing a new all-time high with stable indicators, and that further upside is likely. “Unlike in March, Bitcoin is not showing any signs of a breakout. “Bitcoin trading volume remains subdued, suggesting that the price has room to rise further,” the report said. Daily Bitcoin trading volume averaged $2.6 billion, half of what it was in the first quarter of the year. This relatively quiet market suggests healthy, gradual growth rather than panic buying.”

Julio Moreno, another Startup analyst, said, “Bitcoin is nearing a new all-time high. From a valuation perspective, the next target would be $84,000, which is the upper resistance of the traders' on-chain realized price (on-chain acquisition price) band.”