Bitcoin

Matrix

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin could reach a new ATH within days, amidst bullish reports, Matrixport predicts.</li> 
 <li>BTC is now trading at $71k, up by around 6% in 24 hours, according to CoinMarketCap.</li> 
</ul> 
<p>The latest<a href="https://x.com/realMatrixport/status/1792864427441787210" rel="nofollow" target="_blank"> reports</a> coming from the Matrixport crypto platform suggest that we could see Bitcoin at a new ATH these days.</p> 
<p>The team at Matrixport posted on their X account that although Matrix on Target has been expecting a consolidation for the majority of the last couple of months, their last two weekly reports have been constructive and outright bullish again.</p> 
<p>On May 10, they wrote that <a href="https://crypto.ro/en/news/donald-trump-delivers-bullish-promise-to-accept-crypto-donations-for-presidential-campaign/">Trump</a> might be Bitcoin’s “biggest upside risk” and, on May 17, they noted that the Bitcoin bull market is back.</p> 
<p>Bitcoin started to rally over the weekend and the previous all-time highs could be reached within days, Matrixport concludes.</p> 
<p>They also shared a chart highlighting Bitcoin’s funding rate.</p> 
<p><a href="https://x.com/realMatrixport/status/1792864427441787210/photo/1" rel="nofollow" target="_blank"><img fetchpriority="high" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GOGHeVjagAE1Daa?format=jpg&amp;name=medium" alt="GOGHeVjagAE1Daa?format=jpg&amp;name=medium" width="1080" height="646" title="Bitcoin Could Reach ATH Within Days 2"></a></p> 
<h2 id="btc-trades-at-71k-amidst-optimistic-reports">BTC trades at $71k amidst optimistic reports</h2> 
<p>At the moment of writing this article, BTC is trading above the important level of $71k, up by almost 6% in the past 24 hours, according to data from <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>.</p> 
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<p>Earlier, the price of BTC got close to $71,800 for the first time since March.</p> 
<p>Bitcoin began a bullish ride during the past week, when, on May 15, the new <a href="https://crypto.ro/en/news/bitcoin-above-63k-following-todays-cpi-report/">CPI report</a> revealed revigorating data. The report showed an eased inflation of 3.4% for April, which was in line with economists’ expectations this time, following a few CPI reports that turned out to be hotter than expected.</p> 
<p>Bitcoin ETFs also brought an injection of optimism to the crypto markets, marking six consecutive days of significant inflows. <a href="https://crypto.ro/en/news/bitcoin-etfs-record-241m-inflows-btc-above-71k/">Bitcoin ETFs</a> saw total net inflows of more than $241 million yesterday, May 20.</p> 
<p>More bullish reports are supporting the markets at the moment, with a new potential price catalyst recently addressed that could propel the price of BTC higher – the network<a href="https://crypto.ro/en/news/bitcoin-devs-network-programmability-is-the-next-btc-rally-trigger/"> programmability</a> that’s been addressed by developers recently.</p> 
<p>Crypto analyst Willy Woo also <a href="https://crypto.ro/en/news/bitcoin-wipes-out-85m-shorts-bull-flag-signals-surge-to-100k-price-target/">commented</a> on Bitcoin’s recent price rally, noting that the bulls were challenging overhead resistance that had been in place for a month or more.</p> 
<p>He suggested that one more layer of resistance has to be overcome in order for BTC to achieve new ATHs.</p> 
<p>Woo <a href="https://x.com/woonomic/status/1792786500926722103" rel="nofollow" target="_blank">said</a> that consolidation under an all-time high needs to happen for a while, before opening up “the flood gates.”</p>

Bitcoin Could Reach ATH Within Days

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