Bitcoin price keeps rising: another 1% to a new all-time high

The Bitcoin (BTC) price has stepped on the accelerator again in recent hours, which has now more than passed $ 72,000. Bitcoin only needs an increase of about $1,000 – or just 1.5% – to reach a new all-time high.

Can Bitcoin break its record price today?

The bulls just keep racking up victory after victory. Yesterday afternoon there was reason for joy for the first time when the strong resistance at $69,000, which the Bitcoin price had been rejected time and time again over the past two weeks, was finally broken. This quickly led to reaching the magic $70,000 mark.

After several hours of consolidation, Bitcoin was able to overnight to a peak of $71,600, the highest price since early June.

During the day, the price remained relatively stable, but the bulls proved their strength by maintaining the value above $71,000. From 2:30 PM it was time for another rally, and just over an hour later the next stop of $72,000 was also reached. Even the $73,000 limit is now within reach.

The highest price that Bitcoin has reached is just above $72,800, as shown in the graph below.

So the coin only needs a small push to break the all-time high of $73,800. At the time of writing, the coin is selling for $72.8300, so a jump of just over 1% would be enough to set a new record.

BTC Dominance Reaches 60% Milestone

Bitcoin dominance – Bitcoin’s market share – has also increased further. Bitcoin’s market cap now takes up 60% of the entire crypto market. The last time this was the case was in March 2021.

Over the past day, Bitcoin dominance has taken a big leap, which simply means Bitcoin is outperforming the rest of the market. Most altcoins cannot match Bitcoin’s price rise.

Bitcoin dominance has been on the rise since late 2022. But as Dutch crypto analyst Michaël van der Poppe indicated this afternoon on social media platform X, it has now arrived at an important resistance zone. “I repeat again: if there is a reversal in the next 2 weeks, a bearish divergence will appear and the markets will rally for altcoins,” Van der Poppe said.