After recording the highest monthly closure in May, Bitcoin (BTC) is in the near future in the abyss of a large parabolic rally. The flagship Munt recovered successfully from a previous weekly resistance level of around $ 104k and now identifies the start of a new rally.
In addition, the heavy crypto readings have cooled the lifting farm market in recent days, so that the stage is set for a new bull run. Moreover, Bitcoin’s Futures Open Interest (OI) has gradually increased in the last two months from around $ 47 billion to around $ 71 billion on 3 June, during the Late-Noord-American trade session.
According to data analysis on-chain SantimentAbout 151,820 Bitcoin portfolios held between 10 and 10k BTCs has built up 79,244 coins last week. Consequently, the cohort now has a cumulative bitcoin of 13.57 million.
As Coinpedia has reported in the past, Strategy has led more companies to have taken over Bitcoin as a Treasury Management Tool in the recent past. Reitar Logtech, for example, is planning to collect $ 1.5 billion to acquire BTC for his business treasure box.
What for BTC price now
Bitcoin Price has preferred Bullish Sentiment in recent weeks after the positive developments of the rates led by the United States. With a gold price that signals a potential rally in the direction of a new of all time, Bitcoin price is well positioned to follow at the back.
From the point of view of technical analysis, BTC price is about to have a large parabolic rally in the coming weeks, possibly related to the summer of 2017. According to Crypto analyst Gert van Lagen, Bitcoin Price is on the road to reach $ 320k in the near future, especially after the bullish confirmation of last month.