Bitcoin Price Tackles 12-Month Resistance With $5 Billion BTC Options Expiring – July Target $40k?
This encouraged investors to stay put in their positions, with confidence in the market building toward a possible breakout to $35,000 and $40,000, respectively. Bitcoin Price Outlook In the last 24 hours, Bitcoin price has seen its value grow by 1.6% to trade at $30,700 as traders usher in the European session on Friday. The uptick in price is not unique to Bitcoin , as Ethereum price is trading 2.1% higher on the day and, as reported in our previous Analysis , is on the brink of closing the gap to $1,900. The continuation of Bitcoin and other crypto assets’ bullish trends into the weekend is largely contingent on the market’s response to the expiration of June options, a dynamic that will inevitably shape the near-term course of these digital currencies. Can Bitcoin Price Take On $35k Bitcoin ’s market structure had improved significantly compared to the beginning of June when the crypto industry faced an intensified crackdown by the US securities regulator. That ...