Bitcoin is poised to regain attention as its price performance aligns more closely with US equities, according to recent analysis by Caleb Franzen of Cubic Analytics. Franzen noted that Bitcoin has not yet reached new all-time highs in comparison to the Invesco S&P 500 Equal Weight ETF but sees potential for a breakout as BTC shows signs of moving above its previous regression channel. He suggests traders consider going short on the S&P 500 while going long on Bitcoin. Franzen's optimistic outlook is further supported by a trend strength tool indicating possible price increases, having historically led to significant gains for Bitcoin following similar signals. Additionally, popular analyst Rekt Capital pointed out that Bitcoin recently closed above significant resistance levels and highlighted the importance of maintaining a price above $66,400 for a bullish trend. He emphasized that recent moves could indicate a transition into a new support phase for Bitcoin.

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