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    Home / Blockchain / Bitcoin gains $2K in hours after BTC price bounces near previous all-time high
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October 21, 2021
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Bitcoin gains $2K in hours after BTC price bounces near previous all-time high

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Weak stocks and fresh worries over Evergrande fail to keep Bitcoin down for long as $67,000 all-time highs reappear on the horizon.

Bitcoin (BTC) passed $66,000 again on Oct. 21 after fresh macro turbulence sparked a retest of previous all-time highs.

Evergrande fails to hold Bitcoin bulls back

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from a dip to $64,000 overnight.

The move had come in step with a comedown in stocks, which were reacting to renewed concerns over Chinese property giant Evergrande.

Nonetheless, Bitcoin managed to preserve higher levels, resulting in only a brief trip below the $64,900 threshold, which had held as the BTC record since April this year.

$75,000 next target

Wednesday, Oct. 20, saw new all-time highs of over $67,000 after a squeeze took BTC/USD $3,000 higher.

Related: Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

The monthly candle for October, analysts noted, is already larger than the entire Bitcoin all-time high from December 2017.

“BTC is testing its old ATH for support,” Dutch crypto consultancy and education platform Eight wrote in its latest update on the day.

“If we bounce from here some levels to keep an eye on are around 75k, 87k, and 96k, derived from recent price action using the Fibonacci retracement tool.”

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