Greed

Source

Donald Trump

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-bounces-back-to-67800-bullish-signs-and-trumps-speech-fuel-the-surge/">Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> is back up to $67,800 and fighting the resistance after staying below the $65,000 zone. The lowest price point Bitcoin touched was $63,506.36 before it started riding back up. Let’s understand the reasons behind the rise of Bitcoin.</p> 
<h2 class="wp-block-heading" id="h-charts-showing-bullish-signs">Charts Showing Bullish Signs</h2> 
<p>The hourly chart shows small moving averages like 20 and 50 crossing over to the bigger averages 100 and 200, which is a bullish move. The price is moving in a very strategic order, taking corrections after every few hours. If the price does not take regular small corrections, it will take a big correction after reaching a particular point.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="524" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1024x524.png" alt="bitcoin 1 hour chart" class="wp-image-331904" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1024x524.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-300x154.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-768x393.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1536x786.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-150x77.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart.png 2003w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-external-factors-boosting-btc-price">External Factors Boosting BTC Price</h2> 
<p>On a 4-hour chart, we can see Bitcoin is trying to get a closing on the support level of $67,800 so it can retest the latest support. This surge in price is also due to the reason that pro Crypro Presidential candidate <a href="https://app.coinpedia.org/donaldtrump" target="_blank" class="profile-details">Donald Trump</a> <span class="company_user_profile"><span class="profile_data"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"></span> <span class="company__wrapper"> <span class="company__content"> <span class="profile_link_element"><a href="https://app.coinpedia.org/donaldtrump" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a></span> <span class="company_logo"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/default.png" class="user_profile_img" alt="user_profile_img" title="user_profile_img"> <span class="company-name">Donald Trump</span> <span class="profile_designation"> </span> <span class="company-details">Donald John Trump, an American politician, media personality, and businessman, served as the 45th President of the United States from 2017 to 2021. Note: His Designation Is Former President</span> <span class="company_mail"></span> <span class="company_category"><span>President</span></span> <span class="profile-company-social"> </span> </span> </span> </span> </span> would be speaking at the Bitcoin conference 2024 going on in Nashville on Saturday. Along with that, the <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> are also seeing a rise in inflows. All these sentiments are showing that investors are regaining their trust in Bitcoin.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="520" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1024x520.png" alt="bitcoin 4 hourly chart" class="wp-image-331905" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1024x520.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-300x152.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-768x390.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1536x780.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-150x76.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart.png 1963w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-technical-indicator-support-bullish-outlook">Technical Indicator Support Bullish Outlook</h2> 
<p>In the 4-hourly chart, we can see a crossover in the MACD chart that shows the bulls are getting in power. On the other hand, if we check the liquidation data of Bitcoin, we can see a huge number of short traders got liquidated, indicating the bullish market movement. </p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="282" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1024x282.png" alt="COinglass bitcoin" class="wp-image-331907" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1024x282.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-300x83.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-768x212.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1536x423.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-150x41.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data.png 1604w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : CoinGlass
  </figcaption>
 </figure>
</div> 
<p>Data from IntoTheBlock shows 93% of the people are in the money for Bitcoin and 7 percent are “at the money”.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="396" height="316" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money.png" alt="" class="wp-image-331906" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money.png 396w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money-300x239.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money-150x120.png 150w" sizes="(max-width: 396px) 100vw, 396px">
  <figcaption class="wp-element-caption">
   Source : IntoTheBlock
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-current-market-conditions">Current Market Conditions</h2> 
<p>At the time of writing, Bitcoin is trading at a price of $67,988 with a rise of 3.38% in the last 24 hours, even though the trading volume of BTC has reduced by 20.32%. The Fear and Greed Index is at 59 and has the market dominance of 55.4%.</p> 
<h2 class="wp-block-heading" id="h-what-to-expect">What to Expect</h2> 
<p>Historic data shows that the market has a tendency of taking a small correction after it surges and breaks a resistance. It is required so the market can retest the latest support. As of now, the price of Bitcoin is exactly at the support zone. And before it can proceed towards the $68,000 resistance zone it might need to consolidate at this zone for a few hours. Also, watch out for <a href="https://coinpedia.org/news/bitcoin-conference-2024-what-to-expect-donald-trumps-upcoming-speech/" target="_blank" rel="noreferrer noopener">Donald’s speech</a> at the Nashville conference, it can give a sudden pump to Bitcoin.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/bitcoin-conference-2024-michael-saylor-reveals-major-bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin Conference 2024: Michael Saylor Reveals Major Bitcoin Price Prediction</a><br></p>

Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge

Table of Contents

CoinPedia News

Other articles published on Jul 26, 2024

China and Russia adopt digital payments for trade

Auradine Unveils Teraflux™ 2800 Series, Setting New Standards in Bitcoin Mining

Ethereum (ETH) Prediction for July 26

WazirX Launches Massive $23M Bounty to Track Down $234M Stolen Assets

The Jupiter (JUP) Price Retested $1 Mark: Is It Time To Load Up

Solana (SOL) Targets New High with Positive Momentum

Join our free newsletter for daily crypto updates!