Renowned analyst Rekt Capital has noted that Bitcoin is showing early signs of reduced selling pressure, establishing a strong support level at $60,000. After the release of US CPI data, Bitcoin surged by 6%, surpassing $66,000. Currently trading at $65,780 with a market cap of $1.295 trillion, this upward movement is significant as Bitcoin broke the crucial $64,000 resistance, potentially setting the stage for a new all-time high.

Rekt Capital has indicated that the downtrend in Bitcoin appears to be ending with the current breakout. Despite challenges, the market continues to test investors, emphasizing the importance of holding positions for significant profits. The analyst highlighted diminishing sell-side momentum around the $60,000 support level, emphasizing the need for sustained support to fuel further upward movement.

Market analyst Peter Brandt believes Bitcoin is poised for a new all-time high, requiring a decisive breakout above $67,000 with strong bullish activity. Additionally, analyst Alex Kruger points out positive indicators for Bitcoin's future, citing factors like record stock levels, topping long rates, and a dovish stance from central banks. Analyst Michael van de Poppe notes Bitcoin's resilience at $60.5K, suggesting a period of stability and potential growth, which could coincide with increased altcoin growth.