Bitcoin surges to $30,000, reaching a milestone not seen since April
Bitcoin Surges to $30,000 Following Wall Street Opening
Bitcoin has reached $30,000 following the opening of Wall Street on June 21, according to recent data from Cointelegraph Markets Pro and TradingView. The leading cryptocurrency has experienced its highest level in the past few months on Bitstamp.
This surge in Bitcoin’s price comes after a period of decline and a subsequent uptrend following the filing of Bitcoin ETFs. BTC/USD saw a week-long downward movement, which came to an end with a 20% increase after hitting a low of $24,800 on June 15.
Traders have set short-term targets for Bitcoin, while on-chain tracking resource Material Indicators has highlighted the importance of surpassing the $30,000 level. They identified a resistance at $30,000 in the BTC/USD parity on Binance.
Fed Chairman Jerome Powell’s statements before the House Financial Services Committee have also drawn attention from Material Indicators. Maartunn, known for his contributions to the on-chain analytics platform CryptoQuant, noted that “Americans are buying.”
The intensity of activity on Coinbase and Binance has shown strong buying pressure, with a chart comparing BTC/USD on both platforms signaling significant buying pressure on Coinbase.
At the time of writing, Bitcoin is trading at $30,184 according to Bitstamp data.
This surge in Bitcoin’s price demonstrates the continued interest and investment in cryptocurrencies, highlighting the potential for further growth in the digital asset market. As market conditions remain volatile, investors and traders should exercise caution and closely monitor price movements.
