Bitcoin Eyes $81,000 as Momentum Returns

Bitcoin has regained momentum and is challenging the $80,000 mark again. On Sunday, its price reached $78,960, rising by 1.5%, as investors test the $79,000 resistance zone.

The recent price surge comes after a pullback, but Bitcoin's upward trajectory over the past day remains intact. Seven-day statistics show a 1.8% increase, and since July 30, its price against the US dollar has risen by 23.5%. Trading volume for the day is registered at around $13.1 billion to $13.9 billion on major exchanges.

The market will closely watch developments in the Middle East, including warfare and the Strait of Hormuz. Additionally, the Federal Reserve meeting in September and potential action on the CLARITY Act may bring two-sided effects. Coinglass recorded $75.71 million in cryptocurrency liquidations, while open interest for Bitcoin remained at $54.83 billion.