Bitcoin Hits ATH Rally Inbound?

What a wild day the last few days have been. I honestly thought we would bounce back off of a $69,000 BTC again and fall back to $65,000 like we have been doing for say the last 8 months. But guess what? I was proven wrong as Bitcoin continues to rise now pushing over $71,200!

It really feels like crypto and the stock market are currently pricing in a trump victory as we often see price action well before the news and then when the news breaks things are either stagnate because it was already priced in or they sell off. Otherwise known as a sell the news event.

The ATH point of which many pegged including myself at $69,500 was suppose to be the break away point in which the rally started and it feels like that was the case. But currently bitcoin seems to be in a big of a struggle as it feels like many are starting to take their profits from the last 48 hours.

So far what we can see is there's been major inflows which have wrecked the short sellers which might have been the cause of the quick rally and will tapper off now that most of those short sells have been eaten through.

The next move will be if we start to see altcoins rally which still hasn't really been a thing. instead most of the asset growth and dominance has been within bitcoin as it continues to regain massive dominance in the industry.