Bitcoin failed to breach its all-time high on Oct. 20, but another record has bulls confident of a breakout.
BTC/USD 1-day candle chart (Bitstamp) Source: TradingView
BTC/USD hit $64,490 on Bitstamp overnight, according to data from Cointelegraph Markets Pro and TradingView.
Although still a few steps away from the peak in April, the movement has brought Bitcoin to an all-time high daily closing price-around $64,230.
Several currencies, including bitcoin, hit new all-time highs against the Japanese yen, Australian dollar and euro on Wednesday.
BTC/EUR 1-week candle chart (Coinbase) Source: TradingView
For popular trader Crypto Ed, it's time to reassess possible short-term goals.
He tweeted: "Summary: At 40,000 I mentioned 73,000 as the first target, but I think it will be higher and continue to expand on that. I think there is even a good chance we will be in a period It will not be less than $60,000 within a certain period of time," he said.
He added that a worst-case scenario could be a brief "slump" to $58,000, followed by clear skies "in the coming weeks/months".
Markets are broadly bullish after a successful day for the first U.S. bitcoin exchange-traded fund (ETF) to hit $1 billion in volume and $550 million in AUM in just one session keynote.
BTC futures contract open interest just reached an all-time high of $817,605,927.21 on Bitfinex
The previous all-time high on October 19, 2021 was $816,194,977.96
— glassnode alerts (@glassnodealerts) October 20, 2021
Correspondingly, data from on-chain analytics firm Glassnode confirmed that Bitcoin futures contract open interest hit an all-time high of $817.6 million.
This atmosphere makes the relative lack of mainstream interest in Bitcoin all the more extraordinary.
In addition to the institutional excitement, the data shows that almost no one is paying attention to or looking at Bitcoin compared to earlier this year.
As reported by Cointelegraph, this has been the case for some time, but even reaching the threshold of all-time highs has failed to reverse the trend.
Worldwide Google search interest for the term "Bitcoin" Source: Google Trends
Google Trends’ normalized score shows interest in “bitcoin” at 36 this week, compared to 100 in mid-May.
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