- Jul 15, 2023
Bitcoin circled $30,500 at the June 26 Wall Street open as bulls held newfound support. Bitcoin ETF hype puts demands on U.S. session Data from Cointelegraph Markets Pro and TradingView showed BTC price action retaining $30,000 around the weekly close. The largest cryptocurrency began the week on a stable note as U.S. markets began trading, with observers hoping for a copycat move from the week prior. Then, the United States provided the lion’s share of buyer interest, following multiple announcements of institutional product applications based on the Bitcoin spot price. “Last week, most action and buying pressure, happened during the US Stock Market Open Hours,” popular trader Daan Crypto Trades noted on the day. Fellow trader Skew agreed, calling the June 26 U.S. trading session “important.” On-chain analytics firm Glassnode confirmed the trend, suggesting that it could form part of a more long-term shift thanks to the U.S. exchange-traded fund (ETF) filings. “As a gold rush of institutional-grade ETF applications are filed in the US, we have seen early signs of a revival of US-led demand,” it wrote in the latest edition of its weekly newsletter, “The Week On-Chain.” “This comes after a period of weaker relative US demand in 2023, with top exchanges in Asia seeing the strongest accumulation year to date.” Analyst: Snap BTC price correction “highly unlikely” Turning to BTC price performance itself, trading suite DecenTrader flagged a key resistance level now overhead. This came in the form of its two-year moving average (MA) at just above $32,800. “Historically, underneath the 2 Year MA has provided a fantastic accumulation opportunity ahead of the following halving cycle,” part of Twitter analysis stated. #bitcoinworld #bitcoincharts #bitcoiner #cryptoexpert #bitcoinnetherland #bitcoinatm #cryptonews #cryptocurrencyeducation #trader #cryptomining #cryptolife #cryptotrading #cardano #bitcoins #bitcoininfo #bitcoinminers #cryptominingfarm #bitcoinmoney #bitcoininvestors
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