Bitcoin traders are closely monitoring the market as the price shows signs of a symmetrical triangle breakout, which could potentially push the price towards the key resistance level of $27,600. However, the rise of the US Dollar and the US debt ceiling talks may limit Bitcoin's upward trajectory.
On a positive note, Hong Kong's regulatory changes and Marathon Digital Holdings' support for Bitcoin Core development could positively impact Bitcoin's price. Additionally, prominent US Democratic presidential candidates, Robert F. Kennedy Jr and Tulsi Gabbard, expressed support for Bitcoin's ideals of decentralization and privacy at the Bitcoin 2023 conference.
Currently, Bitcoin is trading at $27,310 with a notable 24-hour trading volume of $14 billion, driven by the prevailing risk-on sentiment in the cryptocurrency market.
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