Michael Saylor Breaks Silence on Bitcoin Struggling to Break Above $63,000

Bitcoin maximalist Michael Saylor, who cofounded MicroStrategy business intelligence behemoth and is currently the company’s executive chairman, has taken to his X social media (formerly widely known as Twitter) account to deliver a Bitcoin message to the global community of Bitcoiners.

Michael Saylor shares “BTC optimistic” message

The world’s leading cryptocurrency is struggling to break above $63,000, which it lost on Monday for the third time recently and, prior to that, it had plunged from the $69,800 level on June 12.

Saylor tweeted: “Be Different,” using the Bitcoin symbol for the letter “B.”

₿e Different

— Michael Saylor⚡️ (@saylor) July 2, 2024

Michael Saylor remains a strong believer in Bitcoin and, like many other vocal BTC bulls, expects the biggest cryptocurrency to reach the whopping $1 million level in the near future.

Since Monday, Bitcoin staged a small increase of almost 1.5%, reaching the $63,500 price tag. However, this short-lived rise was followed by a 1.67% drop. Now, Bitcoin is making another attempt to recover and is trading at $62,850 per coin.

Bitcoin targets $78,700, here’s optimistic scenario

Popular cryptocurrency analyst on X Ali Martinez tweeted earlier today that the $65,795 level is one of the hardest resistance levels for BTC at the moment. If Bitcoin can break through it, then it may be able to surge as high as $78,700 and reach a new all-time high.

One of the most crucial resistance areas for #Bitcoin is $65,795. If $BTC can break past this level, the next significant target is $78,700! pic.twitter.com/tcxTJlKUo3

— Ali (@ali_charts) July 2, 2024

Martinez also revealed that over the past two days, Bitcoin miners have dumped another massive BTC amount, selling 2,300 BTC worth $145 million.

Many market players continue to sell Bitcoin, keeping it at the current price level and preventing it from recovering its old highs so far. Among them are large entities, such as the German and U.S. governments, which have been selling both large Bitcoin and Ethereum stashes lately.

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