Bitcoin’s range break above the $70,000 level boosted altcoin prices and hints at the possibility of a new BTC all-time high. The Bitcoin halving is less than 11 days away and Bitcoin is approaching the event with strength. This shows that the sentiment remains positive, and traders are buying on dips. CoinShares data shows digital investment products saw $646 million in inflows last week. That takes the year-to-date inflows to $13.8 billion, far higher than the $10.6 billion in 2021.

On-chain analytics firm Santiment said in a X post that inflows into spot Bitcoin exchange-traded funds (ETFs) are likely to remain high until the Bitcoin halving. However, the firm added “it will be interesting to see whether a drop-off in ETF volume and on-chain volume will occur directly afterward.”

Bitcoin broke above the symmetrical triangle pattern on April 8, indicating that the bulls have overpowered the bears. The BTC/USDT pair is likely to retest the all-time high of $73,777. This level may act as a significant barrier, but if the bulls overcome it, the pair could start the next leg of the uptrend toward the pattern target of $84,000.

Time is running out for the bears. If they want to make a comeback, they will have to quickly pull the price back below the 20-day EMA ($68,335). If that happens, the pair may plunge to the 50-day SMA ($64,828). Ether has been trading between $3,056 and $3,679 for several days, indicating indecision between the bulls and the bears. The ETH/USDT pair has reached the overhead resistance of $3,679, an important level to keep an eye on. If buyers overcome this obstacle, the pair could pick up momentum and rally to $4,093. The bears are expected to fiercely defend this level, but if the bulls prevail, the pair could start the next leg of the uptrend toward $4,488.

Contrary to this assumption, if the price turns down sharply from $3,679 and breaks below the 20- day EMA, it will indicate that the range-bound action may continue for a while longer.

Lastly please check out the advancement’s happening in the cryptocurrency world.

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