Bitcoin has surged 4% in the past 24 hours, surpassing $28,500 and helping the entire crypto market move past the $1.2 trillion mark. Despite recent consolidation in the market, on-chain data provider Santiment has noted that accumulation in Bitcoin continues, with the number of addresses holding 10+ BTC increasing by 7.1% since February 2022. The simple moving averages of 200 days and 200 weeks act as strong support levels for BTC, and the monthly RSI is trending upwards, indicating a potential long-term rise. However, current market conditions suggest that Bitcoin may experience a bearish correction before any major rise. (coingape)
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Bitcoin Price Jumps 4% Defying Consolidation, Key Support and Resistance Levels
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Cointime August 4 News Express
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