Bitcoin (BTC) Price To Defy History & Record A Bullish September?

The post Bitcoin (BTC) Price To Defy History & Record A Bullish September? appeared first on Coinpedia Fintech News

Amid rising volatility in the crypto market, the global valuation has surpassed the $2.10 Trillion mark with a jump of 3.09% in 24 hours and a total trading volume of $67.04 billion.

Following this, the market leader, Bitcoin price has surpassed its important psychological mark of $60,000. With this, the hope of the BTC price achieving $100k this year seems to be possible once again.

BTC Price Reclaims $60k Mark!

With a jump of 3.51% over the past day, the price of Bitcoin has successfully reclaimed $60,000. Moreover, with a trading volume of $32.57 billion, it has recorded a high of $60,656.72. Notably, it has surged 10.54% over the past week and has a YTD return of 41.96%.

TradingView: BTC/USDT

The Simple Moving Average (SMA) has recorded a bullish curve in the BTC price chart. This indicates increased bullish action for the largest cryptocurrency in the market.

Moreover, the RSI indicator has recorded a sharp uptrend above the mid-point in the 1D time frame. Further, with the average trendline supporting the price chart, the Bitcoin price suggests a positive outlook in the coming time.

Bitcoin Spot ETF Update:

Over the past 24 hours, 7 out of 11 BTC ETFs have recorded a positive flow. Reportedly, Fidelity recorded the high flow with $102.1 million, followed by Ark with $99.3 million. Moreover, Bitwise added $43.1 million, Grayscale added $6.7 million, whereas Franklin, VanEck, and Valkyrie added $5.2M, $5.1M, and $1.7M.

Source: SoSoValue

Notably, no Bitcoin ETFs have recorded a negative flow during this period. With this, the total flow for the day concluded at $263.2 million. This highlights an increased bullish action for the star crypto in the market.

How High Will The BTC Price Go This Month?

If the market holds the Bitcoin price above its support level of $60,000, the bulls will prepare to test its upper level of $62k. Maintaining the price at that level could set the stage for the market leader to head toward its upper resistance level of $66k by the month-end.

On the flip side, a trend reversal could result in its retesting its support trendline of $58k. Furthermore, if the bearish sentiment intensifies, the price of Bitcoin could plunge toward its lower support level of $55,000.

Wondering if the BTC price could smash the $100k mark this year? CoinPedia’s Bitcoin price prediction answers that and much more!