Bitcoin charges toward $64K as Tesla ATH boosts Elon Musk to $250B net worth

Tesla stock nears $1,000 for the first time as a resurgent Bitcoin completes its lower support retest and aims for $64,000.

The price of Bitcoin (BTC) hurtled toward $64,000 in a fresh round of bullishness on Oct. 25 as the market left a weak weekend behind.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin daily gains near 7%

Data from Cointelegraph Markets Pro and TradingView confirmed solid 6.5% gains for BTC/USD in the 24 hours leading up to 4:00 pm UTC on Oct. 25.

The pair erased its previous losses, which arrived as part of a comedown from new all-time highs seen last week.

As has become customary this month, Bitcoin began rising into the start of trading on United States stock markets, with $64,000 being the next level to reclaim at the time of writing.

With $60,000 seemingly retained as support, the mood among analysts has stayed more than optimistic.

For Cointelegraph contributor Michaël van de Poppe, any levels above $57,000 remain acceptable for BTC/USD.

“I think we’re just going to have a consolidatory period or continue the momentum with some slight sideways action before we’re going to break back up towards $91,000,” he summarized in his latest YouTube update.

Tesla beats Facebook to top five U.S. stocks

Bitcoin was not the solitary gainer for the day. Tesla also saw an impressive performance as its stock price hit a new all-time high and now aims for $1,000.

Related: BTC price ‘on the way to $90K’ — 5 things to watch in Bitcoin this week

Tesla CEO Elon Musk, likewise saw his personal wealth hit an eye-watering $250 billion as he reconfirmed his BTC holdings.

TSLA 1-day candle chart. Source: TradingView

Tesla, meanwhile, outmaneuvered Facebook to become the fifth-biggest U.S. stock.

Publication date: 
10/25/2021 - 17:00
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