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Bitcoin Price Surpasses $8,600 in Big Overnight Rally, Investor Eyes $28K

Prior to the run of bitcoin, technical analysts generally anticipated the dominant cryptocurrency to see a pullback following its 100% year-to-date gain against the U.S. dollar.

At $8,600, the bitcoin price is now less than 57% down from its all-time high and is up 132% since January, within six months.