Bitcoin

After the market crisis over the August first weekend, the crypto market has rebounded, with the total market capitalization climbing by 6.50% and daily trading volume showing small decreases.<a href="https://optimisus.com/news/crypto-news/bitcoin-and-ethereum-options-worth-2-5-billion-set-to-expire/" rel="noopener noreferrer nofollow">Bitcoin</a>, the dominant digital currency, has experienced substantial price increases, surpassing the $60,000 mark. The daily trading volume of Bitcoin has had a significant increase of 12%, while its price performance has seen a fall of 6.42% in the past week.Nevertheless, even with the recent increase in price, the prevailing market mood for <a href="https://optimisus.com/news/crypto-news/bitcoin-rebounds-9-to-55000-as-spot-bitcoin-etfs-see-record-5-billion-trading-volume/" rel="noopener noreferrer nofollow">Bitcoin remains inclined towards selling</a>, as evidenced by the RSI value of 47.08. The 9-day moving average (MA) is currently lower than the 21-day MA, suggesting a negative trend in the short term.Bitcoin has exhibited notable price fluctuations in the past 24 hours, reaching a peak of $62,798 on August 8. If Bitcoin sustains its favorable trend, it has the potential to surge and attain the $70K threshold.According to Grayscale’s latest market report, Bitcoin is expected to reach its all-time high (ATH) of $73,750 again if the US economy manages to avoid a recession and demonstrates a’soft landing’.

Bitcoin (BTC) is hovering around $60K; will it hit $70K soon?

Optimisus

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