Bitcoin Price Prediction As BTC Bulls Hold $28,500, Is a Breakout on the Way?

As the world of cryptocurrencies continues to evolve, Bitcoin's price trajectory remains a hot topic among investors and market analysts alike.  

Bitcoin's Connection to Gold Strengthens: A Multi-Year High Correlation Unfold

According to blockchain analytics company Kaiko, Bitcoin's correlation with gold has achieved a multi-year peak, now hovering around 50%, which is higher than its correlation with US equities.

Based on technical analysis, Bitcoin is currently exhibiting a fluctuating trend, potentially facing resistance near the $28,900 mark.

If the BTC/USD pair manages to breach the resistance level at $28,950, it could result in an appreciation of Bitcoin's value, potentially driving the price up to $29,200 or even $30,700. 

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