Bitcoin Price Hits 2-Month High at $8.7K as 3 Bullish Factors Converge

Bitcoin (BTC) surprised traders and analysts alike on Jan. 14 after BTC/USD broke out of its already bullish channel to strike at resistance levels near $8,600.Cryptocurrency market daily overview. Source: Coin360BTC climbs 2% in an hourData from Coin360 and Cointelegraph Markets showed Bitcoin jump 2% in just over an hour on Tuesday to hit local highs of $8,745.A slight retracement followed, with the pair circling $8,700 at press time amid heightened volatility.Bitcoin 1-day price chart. Source: Coin360The latest leg up brings Bitcoin’s 24-hour gains to almost 8%, the largest cryptocurrency remaining at levels previously thought to harbor considerable resistance.As Cointelegraph reported on Monday, veteran trader Tone Vays was among those anticipating further gains, claiming over th...