On Wednesday afternoon, Bitcoin (BTC) surged to a remarkable all-time high (ATH) of $112,022, breaking free from its previous consolidation phase and lower resistance levels.
Bitcoin Rally Faces Critical Test
John Glover, the chief investment officer at crypto lending platform Ledn and a former managing director at Barclays Investment Bank, noted that the recent rally appears to be a retest of the previous all-time high set on May 22, which encountered selling pressure.
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As some investors opted to take profits, notable publicly traded companies, including Trump Media & Technology Group and GameStop, have announced their intentions to purchase Bitcoin to bolster their treasuries.
Glover emphasized that the competition among these companies to accumulate Bitcoin could significantly impact market dynamics, given that the cryptocurrency’s popularity among
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