Bitcoin reverses all the gains from the beginning of the day 📉

4:47 PM 29 July 2024

Bitcoin opened the new trading week on a positive note. Donald Trump's euphoric comments in the context of the most popular cryptocurrency propelled it today to the $70,000 areas, the highest zones tested since June. With the start of trading on Wall Street, however, gains began to fall, and now Bitcoin has erased them completely and is losing nearly 0.05% on an intraday basis. Similar sentiments are seen on Ethereum and other cryptocurrencies.

From a technical point of view, the key defining aspect of whether the cryptocurrency will succeed in maintaining its upward momentum will be whether Bitcoin can once again break above the $69,000 zone. Holding below this zone could theoretically intensify pressure for further profit-taking.

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