The Bitcoin price is back above $70,000 for the first time in four months, indicating a potential start of significant rallies in November.
Crypto analyst Ali Martinez predicts a positive return for Bitcoin in November based on historical data and the current breakout above $70,000.
There is a possibility of Bitcoin retesting its all-time high (ATH) of $73,000 and potentially setting a new record high, with predictions of a rise to $78,000.
Factors driving the Bitcoin rally include massive buying pressure on the Binance exchange, the influence of Spot Bitcoin ETFs, and the upcoming US presidential elections.