Bitcoin was trading above $60,000 on July 14, as the assassination attempt on US presidential candidate Donald Trump triggered BTC price volatility.
BTC price surges above $60,400
Data from Cointelegraph Markets Pro and TradingView tracked the surge in cryptocurrency markets following news of the attack that Trump survived.
Bitcoin (BTC) hit its highest price since July 4th after hitting a local high of $60,423 on Bitstamp.
After an unusually strong weekend, investors looked to the weekly close and the start of regular market trading for evidence that the rally is likely to continue.
“A recovery to $60,500 would be huge for the bulls today. If we get there, it’s a real sign of strength,” popular trader Crypto Tony claimed in a post on X (formerly Twitter).
Trader and analyst Rekt Capital puts emphasis on the same area where BTC/USD is currently trying to maintain the “reaccumulation range” that is currently under threat after the halving.
He wrote last night that “Bitcoin is less than -1.5% away from a significant $60,600 recovery.”
“Bitcoin can do that for 24 hours to protect its reaccumulation range.”
With the current price up 5% from its July 12 close, there is a sizable “gap” in CME Group Bitcoin futures that could be waiting to be filled.
But for popular trader Daan Crypto Trades, there was a different outcome, a possible bear trap.
“It’s still a weekend getaway, but if there’s a place where you can get away from the market participants and just escape, I can’t think of a better place,” he said in some of his latest X content.
“In any case, liquidity/volume is relatively low and it is still unclear how the stock will open tomorrow.”
According to the latest real-time data from monitoring resource CoinGlass, at the time of writing, selling liquidity is concentrated at $60,660, with support thickening below the $60,000 mark.
Bitcoin bulls seize trendline support
As it rose to its highest price in 10 days, BTC/USD attempted to reclaim the key 200-day moving average, which stood at $59,207 as of July 14.
Related: Dip Buy? Bitcoin Institutional Investors Add 100K BTC in One Week
This formed one of several “bullish trendlines” that have been broken in recent weeks. As Cointelegraph reported, the others include the short-term holder realized price, or the total cost basis for Bitcoin market speculators.
A level similar to the 200-day trend line is the average purchase price of US spot Bitcoin exchange-traded fund (ETF) investors.
According to data from Checkonchain, an on-chain analytics resource, the price was $58,240 as of July 10, according to data uploaded to X by its founder Checkmate.
This article does not contain any investment advice or recommendations. All investment and trading moves involve risk, and readers should conduct their own research when making decisions.