Bitcoin

Worldcoin

Arkham

Resistance

<ul class="wp-block-list">
 <li>Bitcoin has retreated to the $67K range after reaching a weekly high of $69,450 on Oct 21.</li>
 <li>Tesla now holds over 11,509 BTC, and MicroStrategy owns 252,220 BTC.</li>
</ul>
Bitcoin has slipped back to the $66K range after starting the week strong and reaching an <a href="https://thenewscrypto.com/bitcoin-teases-69k-briefly-as-bull-run-establishes-its-dominance/" target="_blank" rel="noopener noreferrer nofollow">intraday high</a> of $69,450 on October 21. Currently, the cryptocurrency is attempting to recover, climbing back to $67K after hitting an intraday low of $66,612.&nbsp;
Earlier today, Bitcoin tested the $67,700 resistance zone but struggled to maintain that level. At the time of writing, the price saw a slight increase and traded at $67,176.
Meanwhile, institutional involvement in Bitcoin appears to be on the rise. Recent reports from intelligence firm Arkham reveal that Elon Musk’s Tesla currently holds over 11,509 Bitcoins ($772 million). In addition, MicroStrategy, led by Bitcoin advocate <a href="https://thenewscrypto.com/vitalik-buterin-slams-micheal-saylor-on-his-bitcoin-custody-views/" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor</a>, now holds a staggering 252,220 Bitcoins, valued at approximately $9.91 billion.
Further, on Monday Bitcoin’s 7-day moving average (7DMA) hashrate hit an all-time high of 703 EH/s, marking a 13% rise since April’s halving event. This surge indicates growing miner activity, which could influence future price movements.
<h3 class="wp-block-heading" id="h-24-h-technical-analysis-for-bitcoin">24-H Technical Analysis for Bitcoin</h3>
On the <a href="https://www.tradingview.com/x/jPF5L8e5/" target="_blank" rel="noopener noreferrer nofollow">technical front</a>, Bitcoin’s price is almost nearing the 23.6% Fibonacci retracement level from its recent swing low of $66,536 to its swing high of $69,875. However, it remains below $67,300 and the 9-day Exponential Moving Average (EMA), with a Relative Strength Index (RSI) of 47, signaling a neutral market stance. A contracting triangle is also forming on the 4-hour chart, with support at $66,677.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="488" src="https://thenewscrypto.com/wp-content/uploads/2024/10/image-63-1024x488.png" alt="" class="wp-image-111598" srcset="https://thenewscrypto.com/wp-content/uploads/2024/10/image-63-1024x488.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-63-300x143.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-63-768x366.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-63.png 1299w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Looking ahead, if Bitcoin breaks the key resistance level at $67,250, it could target higher levels around $67,890 and $68,130. However, if the price loses momentum, support levels at $66,320, $65,760, and $65,100 may come into play. A break below these levels could push BTC down to $57,000.&nbsp;
Today BTC is expected to trade in the range between $66,580 support and $67,800 resistance.
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Can Bitcoin Overcome Resistance After Falling to $67K?

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