Bitcoin surged to $67,202 on Monday, marking a 4.9% rise within the last 24 hours and touching the upper boundary of its daily trading range.
Price Momentum and Trading Volume
The cryptocurrency’s advance was backed by a daily trading volume exceeding $34.5 billion, indicating heightened activity among crypto investors. This momentum followed a period of price consolidation earlier in the week, as Bitcoin approached the weaker side of the chart for the new month.
On‑Chain Signals from CryptoQuant
CryptoQuant reported that large‑holder activity shifted away from aggressive selling, completing a significant distribution phase. The data also highlighted a robust buying zone between $60,000 and $61,500, which now serves as a solid support level for the blockchain asset.
Market Outlook for Investors
Reduced exchange reserves, as noted by CryptoQuant, suggest diminishing short‑term selling pressure, offering a more favorable environment for investors. Market participants will watch whether Bitcoin can sustain its gains and challenge higher resistance thresholds in the coming days.