Bitcoin's price has surged by over 7% this week, briefly surpassing $67,500, a level not seen in nearly a month. The leading cryptocurrency is now aiming to establish a fresh peak.

This recent uptrend has provided BTC with new support. However, this level could also pose a significant resistance if it is reversed.

A Key Level Emerges at $61.5K:

The $61.5k mark could potentially serve as robust support for Bitcoin, especially considering the Short-Term Holder (STH) Realized Price metric, which reflects the realized capital of BTC holders who have held their coins for one day to six months.

This group constitutes 53.48% of the total market capitalization, making their actions significant.

Among this cohort, the 0-day to 1-week Bitcoin STH, representing 10.6% of the market, closely mirrors the spot price and typically shows little variation. On the other hand, the 1-week to 6-month group, comprising 47.78% of the market, provides a more accurate reflection of short-term trader sentiments.

Significantly, holders within the 1-3 month range, who entered during March's rally, now control over 30% of the realized capital, indicating a notable shift of volume from long-term to short-term holders.

Given investors' sensitivity to the STH realized price, $61.5k could become a pivotal level. If decisively breached, it might transition from support to a formidable resistance, according to CryptoQuant's analysis.

Potential for Bitcoin's New High:

Bitcoin's price has strengthened since last week, hovering just below $67,500 after surpassing this threshold over the weekend. This level has drawn attention in 10x Research's recent newsletter, suggesting that a breakthrough above $67,500 could lead to fresh all-time highs.

"Bitcoin's price action has notably improved in recent days. Prices have rallied towards the late April resistance zone (67,500), surpassing the early May highs (64,000). A breakout above 67,500 could potentially pave the way for new all-time highs, as predicted by our Bitcoin ETF model."