{"id":122564,"date":"2023-07-14T18:31:11","date_gmt":"2023-07-14T18:31:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/has-bitcoin-finally-conquered-30k-crypto-news\/"},"modified":"2023-07-14T18:31:15","modified_gmt":"2023-07-14T18:31:15","slug":"has-bitcoin-finally-conquered-30k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/has-bitcoin-finally-conquered-30k-crypto-news\/","title":{"rendered":"Has Bitcoin finally conquered $30k?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion.<\/i><\/p>\n<ul>\n<li><em>Bitcoin has hit a new year-high of $31.7k.<\/em><\/li>\n<li><em>Open Interest rose by $1B to signal bullish conviction from speculators. <\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a>  made its most emphatic statement of the year, rising to a year-high of $31.7k.  This pushed the king coin past the $30.9k resistance level.  Previously, BTC was stuck in a tight price range for over three weeks after its solid bullish performance in late June.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green?  Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" data-wpel-link=\"internal\">Bitcoin Profit Calculator<\/a><\/p>\n<hr\/>\n<p>This ascent above the $30.9k resistance could usher another strong bullish leg up for Bitcoin.  As always, altcoins registered good gains with the global crypto market cap rising to $1.25 trillion, a 5.77% increase over 24 hours.<\/p>\n<h4><strong>Bulls claim the upper hand after intense price war<\/strong><\/h4>\n<div id=\"attachment_327489\" style=\"width: 1872px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327489\" class=\"size-full wp-image-327489\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24.png\" alt=\"Bitcoin price chart with green and red bars on a dark background\" width=\"1862\" height=\"1054\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24.png 1862w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSDT_2023-07-14_09-44-24-1536x869.png 1536w\" sizes=\"auto, (max-width: 1862px) 100vw, 1862px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-327489\" class=\"wp-caption-text\">Source: BTC\/USDT on Trading View<\/p>\n<\/div>\n<p>The 12-hour chart revealed the intense price war between bulls and bears which lasted over a three-week period.  Bitcoin&#8217;s extensive gains in June pushed it past the $30k price level.  However, the bears put up stiff resistance at the $31k price zone.<\/p>\n<p>This dropped BTC to a tight range with prices oscillating between $29.4k and $30.9k.  After the latest notable drop to $29.8k on 6 July, Bitcoin began to make a slow advance towards the $31k resistance again.<\/p>\n<p>Despite two rejections on July 10 and July 12, bulls finally found the buying pressure to close above $31k over the past 24 hours.  With BTC trading at $31.2k at press time, new buying opportunities could be on the horizon.<\/p>\n<p>The RSI showed that the bullish momentum was still going strong, as it remained above the median-50 mark with a reading of 61. The MACD also posted a bullish crossover with slight green bars above the zero mark.<\/p>\n<p>New buyers can wait for a retest of the $30.9k-$30.5k area, with a stop-loss below the $30.2k mark.  A break below the $30.2k mark would invalidate the buy idea.  The target for bulls will be a year-high $31.7k with extended levels at $32.2k.<\/p>\n<h4><strong>Futures market reacts positively to new price gains<\/strong><\/h4>\n<div id=\"attachment_327490\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327490\" class=\"size-full wp-image-327490\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1800\" height=\"872\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-300x145.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-1024x496.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-768x372.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-1536x744.png 1536w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-327490\" class=\"size-full wp-image-327490\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate.png\" alt=\"\" width=\"1800\" height=\"872\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-300x145.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-1024x496.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-768x372.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTC_Open-Interest_Funding-Rate-1536x744.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-327490\" class=\"wp-caption-text\">Source: Coinalyze<\/p>\n<\/div>\n<p>The rally above $31k enacted a positive reaction from market speculators, per <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/bitcoin\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a>,  The Open Interest rose by $1 billion over the past day, showing bullish conviction from speculators.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Bitcoin&#8217;s [BTC] Price Prediction<\/a> 2023-24<\/p>\n<hr\/>\n<p>The positive funding rate also showed that more buyers would be eager to bid on Bitcoin if it maintains its strong bullish momentum in lower and higher timeframes.<\/p>\n<p>Together, it highlights the steady buying pressure behind the king of crypto, even as it looks to consolidate above the $31k price zone.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion. Bitcoin has hit a new year-high of $31.7k. Open Interest rose by $1B to signal bullish conviction from speculators. Bitcoin [BTC] made its most emphatic statement of the year, rising to a year-high of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":122565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-122564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=122564"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122564\/revisions"}],"predecessor-version":[{"id":122566,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122564\/revisions\/122566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122565"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=122564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=122564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=122564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}