Bitcoin price has cooled off from its recent highs, but analysts still anticipate a “push higher” as multiple BTC metrics flash bullish.
According to analysts, Bitcoin has shown a number of bullish signals on multiple timeframes, suggesting that the “push higher continues” following a 10% rally over seven days.
Despite the recent drawdown, which saw Bitcoin’s (BTC) price lose 16% of its value between July 1 and July 5, setting a low at $53,499, “Bitcoin has rallied ~21%,” Glassnode co-founders Negentropic wrote in a July 18 X post.
They were referring to Bitcoin’s meteoric rise over the weekend, which reached a high of $66,139 on July 17.
