Bitcoin surged by 8% during the early hours of trading, topping $75,000, better than its March record.
Ki Young Ju, CryptoQuant's CEO, believes Bitcoin's price can still increase in the short term, with up to 40% upside.
Bitcoin's technical data suggests a bullish short-term story, with the price approaching the upper Bollinger Band and the Relative Strength Index (RSI) indicating upward momentum.
Staking platforms like Solv Protocol benefit from Bitcoin's recent price action, with over $2 billion in Total Value Locked and increased activities across blockchains.