Bitcoin Bounces Back to $78K as Buyers Target $81K Resistance

Bitcoin's price has bounced back after a recent pullback, reaching an intraday high of $78,960 on Sunday. The cryptocurrency gained 1.5% in value as buyers challenged the $79,000 resistance zone.

The leading crypto asset is attempting to reclaim higher ground after falling from the $81,000 range a few days ago. Since July 30, Bitcoin's price has climbed by 23.5% against the U.S. dollar.

Despite the rise in prices, only a small amount of liquidations occurred in the derivatives sector. Coinglass.com stats show that over the past day, $75.71 million in crypto shorts and longs were liquidated, resulting in 43,050 traders losing their positions.