Bitcoin trades high against the greenback today. As per a recent news, Crypto market intelligence firm Decentrader said that “there are zero instances of Bitcoin breaking significant previous all-time highs and failing to continue higher.” They anticipate the Bitcoin Bull Run to continue with a possible target objective at $72,000 and then $88,000.

Last week marked a milestone for cryptocurrency as investors started trading the first U.S. bitcoin futures exchange-traded fund, exceeding other ETF launches, and another followed Friday. The new products allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency exchanges. While the new offerings fall short of what the industry eventually wants, ETFs investing in the currency itself but it didn’t slow excitement for the first launch.

On the other hand, Global investment bank JPMorgan says inflation concerns are pushing the price of bitcoin to record highs, rather than interest in recently launched bitcoin futures exchange-traded funds (ETFs). Noting that investors are pulling out of gold ETFs into bitcoin funds, the firm noted, “The flow shift remains intact supporting a bullish outlook for bitcoin into year-end”.

Another recent news favors Bitcoin, Bitcoin can be purchased at 200 Walmart stores in the U.S., the company reportedly said last Thursday. This is part of a pilot program with Coinstar, which operates machines that allow customers to exchange U.S. coins for paper bills or gift cards.

To buy bitcoin at participating Walmart stores, customers need to visit a Coinstar kiosk located within Walmart. They must have an account with cryptocurrency exchange Coinme and each purchase carries a transaction fee of 4% and a cash exchange fee of 7%. Purchasers will receive a voucher that can be redeemed for BTC instantly at Coinme. Coinstar noted, “You can only use paper money to buy bitcoin at Coinstar,” emphasizing that coins are not accepted for BTC purchases.

Inflation fear creates risk in market mood. The CEO of Twitter and Square Inc., Jack Dorsey, tweeted a warning about hyperinflation in the U.S. Friday. “Hyperinflation is going to change everything. It’s happening,” he wrote. Comments flooded his tweet. At the time of writing, it had garnered more than 7K comments and had been liked 70.1K times and retweeted 22.9K times. In a follow-up tweet, Dorsey emphasized: “It will happen in the U.S. soon, and so the world.”

BTC/USD 4 Hour Chart:

Support: 59825.9 (S1), 58682.9 (S2), 57852.2 (S3).

Resistance: 61799.6 (R1), 62630.3 (R2), 63773.3 (R3).

Amidst all the catalyst creating a favorable atmosphere for Bitcoin, we expect a bullish trend for BTC/USD.