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bitcoin price soared 5% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>to be traded at $62,847 at 12:37 a.m. EST on trading volume that increased 33% to $25.6 billion.
The btc price surge comes after Germany finished selling confiscated btc and with Mt. Gox refunds likely now factored into the price. Selling pressure from these market excesses had pushed the bitcoin price to a monthly low of $53,500 on July 4.
bitcoin has invalidated the earlier bearish sentiment, which saw over $360 million in leveraged short positions liquidated, according to data from Coin crystal.
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360M in twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin CLEARANCE Shorts
Thanks for playing! https://t.co/IzBY9rWheU image.twitter.com/LF098lOV0V
—Thomas | heyapollo.com (@thomas_fahrer) twitter.com/thomas_fahrer/status/1812678403654586398?ref_src=twsrc%5Etfw”>July 15, 2024
Over the past week, the price of bitcoin has been in an uptrend, trading within an ascending channel as the price spiked past the $60,000 resistance, according to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>GeckoTerminal.
bitcoin Price Will Continue to Rise Above the Ascending Channel Pattern
bitcoin price is now trading well above the 50-day and 200-day simple moving averages (SMA), which is a confirmation of the sustained bullish stance on the upside.
Moreover, the relative strength index (RSI) is rising above the overbought region of 70, currently at 81, showing that buyers have the upper hand.
The moving average convergence divergence (MACD) also coincides with the bullish price trend, crossing above the neutral line, a sign that bitcoin price is in an uptrend. The green bars of the histogram also extend above the zero line, meaning btc is in a positive trend.
According to the bitcoin price analysis on the 1-hour chart, the bulls are pushing the token towards sustained bullish momentum, having broken above the upper boundary of the ascending channel pattern.
With major indicators pushing the token towards positive momentum, btc bulls are aiming to propel the token higher, targeting the next resistance at $67,000.
However, the fact that the token is overbought shows that it is currently overvalued, which may lead to a slight pullback in the coming days. In this scenario, the $59,037 level, which coincides with the 50-day simple moving average (SMA), offers strong support.
As the price of bitcoin soars, investors are also turning to bitcoin-linked projects like 99Bitcoins (99BTC), which has amassed over $2.4 million in its pre-sale.
99Bitcoins presale closes at $3 million
99Bitcoins is an educational platform with more than 2 million registered users for its courses and more than 700K subscribers on its YouTube channel.
The project plans to gamify cryptocurrency education by allowing users to take on challenges and complete lessons to earn higher rankings and rewards via $99 btc tokens.
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What is spatial computing? Find out how twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw”>#blockchain is transforming augmented and virtual reality, making immersive digital worlds more interactive and safe.
Go deeper: https://t.co/2hlZYRFHBvtwitter.com/hashtag/99BTC?src=hash&ref_src=twsrc%5Etfw”>#99BTC twitter.com/hashtag/SpatialComputing?src=hash&ref_src=twsrc%5Etfw”>#Spatial Computing twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#Web3
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw”>April 8, 2024
99Bitcoins integrates with BRC-20, allowing developers to seamlessly build dApps on the bitcoin network.
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Introducing $99BTC in BRC-20!
Since 2013, twitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins It has been the reference resource for learning about twitter.com/hashtag/Cryptocurrency?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrency.
We are launching a platform that allows the construction of twitter.com/hashtag/dApps?src=hash&ref_src=twsrc%5Etfw”>#DecentralizedApplications at the top of the twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin net!twitter.com/hashtag/LearnToEarn?src=hash&ref_src=twsrc%5Etfw”>#LearnToWin Reward users on the bitcoin blockchain.
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1785308220677853254?ref_src=twsrc%5Etfw”>April 30, 2024
Token holders can bet $99 btc for an annual percentage yield (APY) of 699%. The team has already allocated 14% of the 99 billion token supply for staking rewards.
Jacob Bury, a prominent cryptocurrency YouTuber, believes that 99BTC has the potential to turn $1,000 into $10,000 after its launch.
You can buy 99 btc tokens for $0.00113 each. The price will go up in about a day, so buy them early to get the best deal.
To join the pre-sale, Buy $99 btc from the official website here using eth, USDT or a bank card.
Related news
99Bitcoins (99BTC): new token to learn how to make money
- Audited by Solid Proof
- Established Brand: Founded in 2013
- Free Airdrop: Earn a Share of $99,999
- Learn to make money: get paid for completing trading courses
- YouTube community with over 700,000 members
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