Bitcoin (BTC) Bull Run: Potential Surge to $83,500 by July in Focus

• Bitcoin has seen a significant recovery, soaring 14% since the crash to $56.6K, reclaiming the $64K channel.
• An analyst predicts that a $67.5K re-entry could pave the way for a new all-time high (ATH) at the $83.5K level.
• If the re-entry fails, a retest of $60K is expected before the rally to $83.5K by July.

Bitcoin rebounds 14% after crash, reclaiming the $64K channel. Analysts predict a potential new ATH at $83.5K if the $67.5K re-entry is successful.

Bitcoin Recovers, Reclaiming $64K Channel

Over the last 48 hours, the crypto market has been in a significant recovery mode, with the premier cryptocurrency, Bitcoin (BTC), reclaiming the $64K threshold. This bullish market emerged less than a week after Bitcoin collapsed to $56,500. With Bitcoin’s intraday high of $64,500 at press time, the premier asset has rebounded by over 14.15% since the May 1 crash. The alternative cryptocurrencies have leveraged Bitcoin’s rebound to regain lost territories.

Analyst Predicts Potential New ATH

Given the ongoing market recovery, prominent market watchers are examining how long the recovery could last before another bearish turn. Among those commenting is Matthew Hyland, a widely followed Bitcoin analyst. Hyland suggests two possible scenarios. If Bitcoin reclaims $67,500 in this bullish run, it could set the path for a more aggressive rally that... Read the full article for FREE at COINOTAG!