Bitcoin finally breaks $46,000 and is seemingly not stopping

Bitcoin's price has been on an overall downwards trajectory since it reached its all-time high of $69,000 back in November 2021.

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Since BTC topped out at $69,000 in November, it has been on a slow decline in price, eventually bottoming out at $33,000 in late January, which was followed by a sharp climb to $45,000 in early February. From February onwards, Bitcoin has traded anywhere between $37,000 and $45,000, failing twice at breaking through the $45,000 resistance.

While BTC's price is seemingly moving sideways on the chart, it is gaining in overall price as there have been continuous higher lows that have now led to a sharp price increase. For six days in a row, Bitcoin has closed higher than the previous day and is now currently sitting at $47,000 at the time of writing this post. The uptick in price marks the first time Bitcoin has broken through the $45,000 mark since January.