Following on from Bitcoin’s ($BTC) huge run up since the start of November, and a period of consolidation, the number one cryptocurrency could be ready to begin the next stage of its ascent to $100,000, and possibly beyond.
An enormous price surge
Since leaving its bull flag, the Bitcoin price has exploded higher. 42.6% to be precise, which equates to a U.S. dollar gain of $27,000. This is a simply enormous price surge, and it is therefore no surprise that the price has experienced a pause over the last several days, as the market takes time to absorb this massive move.
That said, this pause could be a temporary one, as the $BTC price is already climbing higher on Monday – just over 2% up on the day so far. Bitcoin is now above the ascending trendline from the 2021 bull market, and is also above the 1.414 Fibonacci level.
Two major buyers
This positive price action may have the effect of convincing the U.S. Spot Bitcoin ETFs to start buying again. Last Thursday and Fri
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