Bitcoin

<a href="https://finbold.com/massive-adoption-alert-blackrocks-ceo-once-said-zero-clients-interested-in-crypto/" rel="noopener noreferrer nofollow">Institutional adoption</a> hopes sparked a broader <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> rally, propelling Bitcoin’s (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) price above the $30,000 mark earlier this month.Now, the leading crypto asset may be ready to make its next big upswing, according to crypto market expert Ali Martinez.Specifically, Martinez <a href="https://twitter.com/ali_charts/status/1674702366241705987?s=20" rel="noopener noreferrer nofollow">noted</a> that Bitcoin has returned above a stable support level after 1.84 million investors purchased around 910,000 BTC in the price range from $29,930 to $30,800.If Bitcoin manages to stay above this demand area, “it has a good chance of advancing toward $35,000 due [to] the lack of resistance ahead,” said Martinez on June 30, citing on-chain data by the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> intelligence platform IntoTheBlock.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/098ac16b3f1948e6b7028bd08177eb87.PNG"><h2 id="header-0">Over 86% of Bitcoin investors at a profit</h2>The data also shows that 7.68 million <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> addresses who bought Bitcoin between $26,156 and $35,459 are currently ‘in the money,’ meaning their BTC investments are profitable. In percentage terms, this figure stands at 86.16%.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2b6947da0a864a1ca0c48c8aa9a354a6.jpg">Bitcoin in/out money data. Source: IntoTheBlockAt the same time, over 1.20 million investors, or 13.62%, are at a loss, while 0.22% are at a break-even level.<h2 id="header-1">Bitcoin price analysis</h2>At press time, the price of Bitcoin was changing hands at $31,054, up 1.36% in the past 24 hours.Over a weekly chart, the world’s biggest crypto asset rose by more than 3%, and over 11.3% on the month.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3a237e93cd4c498fa1dda3088e462a13.jpg">BTC 1-month price chart. Source: FinboldYear-to-date, BTC is up over 86%, driven by an impressive broader market rebound following a harsh crypto winter in 2022.With the latest price surge, Bitcoin has broken above “the most important” resistance level <a href="https://twitter.com/rovercrc/status/1674749875668529153?s=20" rel="noopener noreferrer nofollow">highlighted</a> by popular crypto YouTuber Crypto Rover.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f2f29380771c4aa9b23a8f0660e57b2b.PNG">Piercing through this key <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> level, which stands at around $30,900, suggests a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> sentiment and potentially indicates a shift in market dynamics.It could lead to increased buying pressure as traders perceive the breakout as a positive signal, potentially driving the BTC price even higher in the short term.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source=CMC&amp;utm_medium=social&amp;utm_campaign=CMC&amp;utm_content=long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin poised to attack $35,000 amid ‘lack of resistance’

Table of Contents

Finbold

Other articles published on Jul 4, 2023

Aave Proposes Freezing TUSD Reserve Amid Regulatory Controversies

Nasdaq Refiled for BlackRock's Spot Bitcoin ETF with Coinbase as Surveillance Partner

Pepé Le Pew Coin ($PLPC) Unveiled as #TopSecretMemeCoin

Jinan pioneers Chinese CBDC use in transportation with digital yuan bus payments

Opside & Galxe Radio Show Recap：How to Build a Decentralized ZK-RaaS Network featuring ZKP-POW Mi...

Bitcoin (BTC) Bull Run Is Just Getting Started, Says Analyst

Join our free newsletter for daily crypto updates!