The Bitcoin price rose 9% in the last 24 hours to trade at $56,702 as of 05:19 a.m. EST on trading volume that surged 207% to $50 billion.

BTC has finally surpassed the $55,000 threshold, a milestone coinciding with BlackRock’s spot BTC ETF witnessing a daily inflow of $1.3 billion. That surpassed its previous record of just over $1 billion, and brought the fund’s total assets under management (AUM) to $6.6 billion.

‘New nine’ spot Bitcoin ETF volumes reach new daily high as BTC nears $55K
BlackRock’s IBIT made up more than 50% of the daily trading volume and even smashed its own daily record by more than 30%.

— Mr Legend Crypto (@mrlegendcrypto) February 27, 2024

Additionally, another factor causing the gain in Bitcoin’s price may be the anticipation of the halving event that comes in about 54 days. The event will decrease the BTC supply, and likely drive the price even higher.

Bitcoin Price Bullish, Aims To Break Above The Rising Channel Pattern

The Bitcoin price has continued registering exponential gains from October 2023, which has seen the bulls drive the price up within the rising channel pattern.

The bulls have shown resilience, breaking above the set psychological barrier at $55,000, as they aim to breach the upper boundary of the channel.

BTC is currently trading above both the 50-day and 200-day Simple Moving Average (SMA), a confirmation of a sustained bullish momentum. Moreover, the 50-day SMA is trading above the 200-day SMA, forming a golden cross at $28,201, affirming the bullish sentiments.

The Relative Strength Index (RSI) is trading upwards from the 50-midline level to the overbought region at 80. This is an indication of intense buying pressure, which may be a result of increased buyer optimism.

Furthermore, the Moving Average Convergence Divergence (MACD) supports the bullish momentum, as the moving average line (blue) crosses above the signal line (orange). This bullish crossover is often an encouragement for investors to increase their buy positions.

The green bars on the histogram have started forming above the zero line, indicating a start of a positive momentum. Additionally, the Average Directional Index (ADX) is moving north at 36, which indicates that the current bullish trend is very strong.

Bitcoin Price Prediction

The current Bitcoin price analysis shows a sustained bullish momentum, as the bulls aim to breach the upper boundary of the rising channel. A breakout will see the bulls pushing the price higher, targeting $80,000.

However, if the bears take control of the price, they may drive the price through a retrace, back to $45,945, coinciding with the lower boundary of the channel. 

As the Bitcoin price soars, investors looking to diversify their investments are looking into Green Bitcoin, with its ICO hurtling towards $1.2 million. 

Green Bitcoin Secures $1.1 Million In Funding – More Eco-Friendly Alternative To Bitcoin

Green Bitcoin ($GBTC) is a project that combines the legacy of Bitcoin with the eco-friendly attributes of Ethereum.  And it is built upon a sustainable foundation that stands in stark contrast to Bitcoin.

The project introduces a sustainable staking model, the Gamified Green Staking, where users can easily earn passively through staking rewards.

Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.

Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!

Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio

— GreenBitcoin (@GreenBTCtoken) December 3, 2023

Green Bitcoin allows you to take part in daily and weekly BTC price prediction challenges, where you can earn $GBTC token rewards.

To participate in this gamified approach, you can buy $GBTC tokens at a discounted price of $0.492, before the price increases in less than seven hours.

Stake $GBTC, 261% Annual Rewards

Additionally, you can earn passively by staking your acquired $GBTC tokens, earning an impressive 261% annual percentage yield (APY). Currently, there are over 2.2 million $GBTC tokens that have already been staked.

Did you know you can earn HUGE, simply by staking your Green Bitcoin?

If you haven’t yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O

— GreenBitcoin (@GreenBTCtoken) February 25, 2024

The project’s Predict-to-Earn feature further opens another earning opportunity that only needs participation in daily BTC price prediction challenges. Rewards are distributed every 10 minutes, with $GBTC acting as the stake as well as the reward.

According to Jacob Bury, a crypto analyst and YouTuber, Green Bitcoin is among the top five crypto presales to buy before the Bitcoin halving.

[embedded content]

To participate in the presale, you can buy $GBTC from the official Green Bitcoin website, and exchange ETH or USDT for $GBTC tokens. You can also buy directly using your bank card.

Related News

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-soars-9-to-highest-in-27-months-as-blackrocks-bitcoin-etf-hits-record-1-3-billion-inflow-time-to-buy-btc