Bitcoin Price Sees 23.5% Surge Since July 30 Amid Ongoing Volatility
Bitcoin's price has rebounded after a recent pullback, reaching $78,650 per coin at 10:10 a.m. Eastern time. This represents a 1.8% increase in value over the last seven days and a 23.5% climb since July 30 against the U.S. dollar.
The day's trading volume has been around $13.1, $13.9 billion across major venues, with only a small amount of liquidations occurring in the derivatives sector. Coinglass.com stats show that over the past day, $75.71 million in crypto shorts and longs have been liquidated, resulting in 43,050 traders losing their positions.
Bitcoin's uptrend remains intact according to technical indicators. The price sits comfortably above the 20-day, 50-day, and 200-day moving averages, with oscillators like the daily relative strength index (RSI) at around 73 and the Stochastic hovering a bit higher at 83.
Immediate resistance lies in the $79,000 range and higher, particularly the recent $81,000 rejection zone. Support levels are found at $77,500 and deeper around $68,000 to $69,000 near the 200-day averages.