Is BTC Price Indicating Bullish Trends as July Ends?

• Bitcoin (BTC) price has surpassed the $65K level in the last 24 hours. 
• The token’s daily trading volume showed a 4.08% increase according to CMC data.

The largest cryptocurrency, Bitcoin witnessed amplified price activity over the last 30 days. While the brief market crash in July’s first week brought prices sliding down, the token has attempted to regain its previous price levels in the past few weeks. In the last 24 hours, the BTC price increased by 4.39%. 

According to CMC data, the token was trading at $64,136 in the early hours of July 25. As the day progressed, bullish candles began to spark, propelling Bitcoin to surpass the $65K level yet again. BTC slid to the $63K level momentarily during the day, but bullish movements took over. 

Additionally, the current bullish trend has instigated a buying sentiment in the market. The token’s RSI stands at 62.14 according to TradingView data. Moreover, the token’s trading volume showed a 4.84% daily increase. At the time of writing, Bitcoin was trading at $67,104. 

Meanwhile, the US spot Bitcoin ETFs have begun to show consistent inflows over the last few weeks. Notably, the ETFs witnessed massive inflows of up to $422 million last week. Amid the spot ETH ETF launch, the BTC ETFs have managed to sustain investors’ attention. 

BTC Price Weekly Overview  

In the last seven days, Bitcoin’s price showed intriguing activity with prices struggling to stay above current resistance levels. On July 20, the BTC price was at $64,390, it then dipped to the $63K level briefly. However, as the week progressed, the token showed bullish signs and hit a 7-week high of $68,295 on July 22. 

BTC/USD Daily Price Chart (Source: TradingView)

Contrastingly, after the bullish rally, BTC price exhibited another bearish wave which pulled prices down to the support level of $63,479 on July 25. Following this, in the last 24 hours, the token reverted upward to current trading levels. Moreover, the token’s current bullish trend is exhibited by its short-term 9-day MA standing above the long-term 21-day MA.

Furthermore, the market analysts have sustained positive outlooks for Bitcoin prices in the coming months. TheNewsCrypto analysts have predicted a bullish price of $81,013.11 for Bitcoin in 2024. 

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