{"id":12430,"date":"2023-06-21T19:20:42","date_gmt":"2023-06-21T19:20:42","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=12430"},"modified":"2023-06-21T19:20:42","modified_gmt":"2023-06-21T19:20:42","slug":"bitcoin-price-taps-30k-for-first-time-since-april","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12430","title":{"rendered":"Bitcoin price taps $30K for first time since April"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) returned to $30,000 after the June 21 Wall Street open in a triumphant continuation of the week\u2019s gains.<\/p>\n<p><em>BTC\/USD 1-day chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin price destroys traces of multi-week downturn<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView confirmed a new multi-month high of $30,340 on Bitstamp.<\/p>\n<p>BTC price action continued to heat up throughout the day as bulls made the most of strength, which had come thanks to various announcements of legacy finance applying to launch a Bitcoin exchange-traded fund (ETF).<\/p>\n<p>In so doing, BTC\/USD erased many weeks of downside, adding over 20% versus local lows below $24,800 seen on June 15.<\/p>\n<p lang=\"en\" dir=\"ltr\">$32,000 #BITCOIN IS A MAJOR RESISTANCE ZONE ON BTC, SO THIS IS MY MAIN BITCOIN TARGET <\/p>\n<p>NO NEED TO GET GREEY ON THIS PUMP. WE KNOW HOW QUICK THINGS CAN CHANGE pic.twitter.com\/mdj2YvnakW<\/p>\n<p>\u2014 Crypto Tony (@CryptoTony__) June 21, 2023<\/p>\n<p>As traders lined up short-term targets, on-chain monitoring resource Material Indicators focused on $30,000 as an important level to overcome.<\/p>\n<p>Uploading a print of the BTC\/USD order book on Binance, it noted that \u201cresistance at $30k is building.\u201d <\/p>\n<p>\u201cWatching to see how much bid liquidity moves in to the active trading range to serve as support,\u201d it commented. <\/p>\n<p>\u201cDon\u2019t really expect #JPow to reveal any surprises with his testimony, but these events usually deliver some volatility.\u201d<em>BTC\/USD order book data for Binance. Source: Material Indicators\/Twitter<\/em><\/p>\n<p>Material Indicators referenced ongoing testimony from Jerome Powell, chair of the United States Federal Reserve, before the House Financial Services Committee.<\/p>\n<p>The U.S. was already a focus for crypto market participants, with the ETF announcements fueling a return to accumulation during Western trading hours.<\/p>\n<p>\u201cThe Americans are buying,\u201d Maartunn, a contributor at on-chain analytics platform CryptoQuant, continued.<\/p>\n<p>\u201cThe intense bidding on Coinbase that took place yesterday commenced at a similar time as it did today.\u201d<\/p>\n<p>An accompanying chart showed the premium for BTC\/USD on U.S. exchange Coinbase versus largest global crypto exchange Binance, this signaling \u201cstrong buying pressure\u201d on the day.<\/p>\n<p><em>BTC\/USD Coinbase premium chart. Source: CryptoQuant<\/em><\/p>\n<p>Previously, Cointelegraph noted the changing possession of the BTC supply from the U.S. to China throughout the past year.<\/p>\n<h2>\u201cThe real deal\u201d<\/h2>\n<p>Others turned their attention to what they considered more organic BTC price action compared to recent local highs.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price \u2018sideways boredom\u2019 may last 18 months \u2014 New research<\/em><\/strong><\/p>\n<p>In line with popular trader and analyst Rekt Capital, Scott Melker, the trader and podcast host known as \u201cThe Wolf Of All Streets,\u201d hoped for continuation.<\/p>\n<p>\u201cThis Bitcoin move is spot driven, with minimal liquidations and shorts STILL piling in. Further, spot volume today is as much as yesterday already with 10 hours left in the candle,\u201d he told Twitter followers. <\/p>\n<p>\u201cThis is the real deal.\u201d<\/p>\n<p>An accompanying chart highlighted trading volume on the way up to $30,000.<\/p>\n<p><em>BTC\/USD chart. Source: Scott Melker\/Twitter<\/em><\/p>\n<p><strong><em>Magazine: Bitcoin is on a collision course with \u2018Net Zero\u2019 promises<\/em><\/strong><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-taps-30-k-first-time-since-april\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) returned to $30,000 after the June 21 Wall Street open in a triumphant continuation of the week\u2019s gains. BTC\/USD 1-day chart. Source: TradingView Bitcoin price destroys traces of multi-week downturn Data from Cointelegraph Markets Pro and TradingView confirmed a new multi-month high of $30,340 on Bitstamp. BTC price action continued to heat up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12430"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12430\/revisions"}],"predecessor-version":[{"id":12432,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12430\/revisions\/12432"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12431"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}