Bitcoin has surged past the $65K mark in the past 24 hours, marking a significant milestone for the cryptocurrency. Data from CMC shows that the daily trading volume of the token has increased by 4.08%.
Over the last month, Bitcoin has experienced heightened price activity, with a brief dip in early July followed by a steady climb back up to previous levels. In the last day alone, BTC saw a price increase of 4.39%.
According to CMC, Bitcoin was trading at $64,136 in the early hours of July 25. Throughout the day, bullish momentum pushed the price above $65K, despite a brief dip to $63K. The current market sentiment is bullish, with the RSI at 62.14 and a 4.84% increase in trading volume. As of now, Bitcoin is trading at $67,104.
US spot Bitcoin ETFs have been seeing consistent inflows in recent weeks, with a significant increase of $422 million last week. With the launch of spot ETH ETFs, investor attention remains focused on Bitcoin ETFs.
Looking at the past week, Bitcoin’s price has been volatile, struggling to break through resistance levels. After hitting a high of $68,295 on July 22, the price dipped to $63,479 on July 25 before rebounding back up. The short-term 9-day MA is currently above the long-term 21-day MA, indicating a bullish trend.
Market analysts are optimistic about Bitcoin’s future, with TheNewsCrypto predicting a price of $81,013.11 for Bitcoin in 2024.
In other crypto news today, Bybit has seen remarkable growth, climbing to the second spot in the global derivatives market.