Bitcoin Price Surges Toward $55,000 Amid ETF Anticipation
TL;DR
The Bitcoin price has been consolidating in a channel pattern, awaiting the US SEC decision on spot Bitcoin ETFs, with a potential breakout expected to resume the recovery rally. The BTC price is currently trading at $44333, with a potential upside breakout signaling a rally towards $52100 and $60000, while a breakdown could lead to a new correction phase. Additionally, over 30% of Bitcoin's total supply hasn't been moved in more than five years, indicating a strong trend of long-term holding among investors.
- Is Bitcoin (BTC) Price Poised to Break $55,000 with Spot ETF Nod? CoinGape
- Bitcoin touches $46,000 as investors await ETF decision this week CNBC
- Bitcoin Retakes $45,000 With ETF Applicants Making Final Push Yahoo Finance
- BTC/USD Signal Today- 08/01: Sits and Waits (Chart) DailyForex.com
- Bitcoin Alone Shines Among Top 10 Coins with Weekly Gains, While ETF Seeks to Illuminate the Market DailyCoin
Want the full story? Read the original reporting
Read on CoinGape