Ken Chigbo
Independent Analyst
- Bitcoin is trading up around 12% on Wednesday, as the bulls maintain pressure.
- BTC/USD is on a promising run back towards the $10,000 price mark.
The Bitcoin bulls are further extending to the north in the latter stages of the day, now holding chunky double-digits gains of some 12% at the time of writing. Momentum really picked up pace as the price shot through the $8400-500 price range.
BTC/USD is now trading up at the highest levels seen in some three weeks. The price has been running higher for some nine sessions now, gaining pace to the north, as key barriers are broken; $7000, $7500, $8000 and now $8500.
Given the strength of upside pressure being observed, it appears much buyer faith is being restored, as the price heads back towards the big $10,000 mark.
BTC/USD 60-minute chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Toncoin eyes recovery following Bitfinex debut of tokenized Gold via TON
Toncoin extends recovery as bulls push to reclaim the 50-period EMA on the 4-hour time frame. Bitfinex announced on Tuesday the launch of tokenized Gold supported via The Open Network.
Crypto Today: Bitcoin holds below $109,000 as Ethereum, XRP offer recovery signals ahead of FOMC minutes
Bitcoin shows signs of weakness, capped below $109,000, as focus shifts to the FOMC minutes release. Ethereum's lukewarm rebound steps above $2,600, underpinned by steady spot ETF inflows.
Elon Musk's tweet on Epstein and GrokAI’s hallucination puts the spotlight on PNUT, MechaHitler
PNUT stalls Tuesday's recovery, sparked by Elon Musk’s tweet about the Jeffrey Epstein case. X’s GrokAI referenced MechaHitler, resulting in a new trend in the crypto market with the creation of over 250 MechaHitler tokens.
Bitcoin Price Forecast: BTC steady around $108,000 as investors await FOMC minutes for Fed rate clues
Bitcoin price holds steady at around $108,000 on Wednesday, maintaining support at a key technical level. Investors' attention shifts to the FOMC meeting minutes, as it offers insights into the Fed’s interest rate path prospects.
Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end
Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.