Bitcoin (BTC) is experiencing strong upward momentum, currently trading around $65,870, showing a 5.34% increase over the past 24 hours. It has touched a high of $66,116.66 during the day, breaking through the $65,000 resistance level, a critical psychological threshold for traders. This level's breakthrough is seen as a potential gateway to further bullish activity, with the next targets likely hovering around the $66,000-$74,000 range.

On-chain data indicates that whale activity is supporting the upward trend, adding liquidity and countering sell pressure. However, mixed retail participation and fluctuations in ETF inflows are moderating enthusiasm. Analysts emphasize that if Bitcoin holds above $65,000 and macroeconomic factors, such as market volatility tied to U.S. Fed policies, remain favorable, the cryptocurrency may sustain its bullish path through the final quarter of the year.

For traders looking to capitalize, maintaining long positions appears advantageous, particularly with buy walls providing stability. However, caution is still advised since sudden reversals are possible if Bitcoin fails to maintain momentum above these crucial support levels.