August 20, 2022

Bitcoin price hits $60K after bulls push through a key resistance cluster

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Bitcoin (BTC) hit $60,000 for the first time on March 13 as the long-awaited continuation of the BTC price bull run got underway.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

BTC records another landmark price level

Data from Cointelegraph Markets and Tradingview tracked BTC/USD as the pair finally crossed the historic level after several weeks of mild corrections and periods of consolidation.

Bulls had spent a considerable time in limbo as Bitcoin tested prior all-time highs at $58,350 repeatedly, with a significant resistance zone beneath slowing progress.

In the end, however, optimism won out, and the largest cryptocurrency by market capitalization clinched its latest milestone. At press time, price action focused on an area just below $60,000 amid characteristic volatility.

As Bitcoin price inched its way closer to the previous all-time high, analysts at Whalemap observed some interesting on-chain activity taking place.