Bitcoin

<ul>
 <li><strong>The price of Bitcoin (BTC) skyrocketed after the untrue story spread extensively.</strong></li>
 <li><strong>If the bulls could drive the prices above $29,250 level, then it will likely test $30,450 level.</strong></li>
</ul>
<p>Following the latest disinformation incident, the U.S. <a href="https://thenewscrypto.com/judge-addresses-multiple-pending-motions-in-binance-vs-sec-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> may have uncovered more reasons to reject future Bitcoin ETF applications. Recent events were triggered by unfounded rumors that the SEC had approved a Bitcoin ETF from BlackRock, leading to extreme price fluctuations.</p>
<p>The price of <a href="https://thenewscrypto.com/fake-bitcoin-etf-approval-report-causes-brief-btc-price-spike/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> skyrocketed after the untrue story spread extensively on social media. BlackRock acted swiftly to clarify that its application to launch an ETF was still being reviewed. The SEC issued a caution to the general public on Twitter.</p>
<p>The regulatory body stated:</p>
<blockquote class="wp-block-quote">
 <p>“Careful what you read on the internet. The best source of information about the SEC is the SEC.”</p>
</blockquote>
<h3 class="wp-block-heading" id="h-eyeing-30k-barrier">Eyeing $30k Barrier</h3>
<p>The value of Bitcoin likewise went on a wild trip, rising over $29,000 before plummeting back. As of now, Bitcoin has stabilized around the $28,500 mark. Bitcoin is now trading at $28,536 at time of publication as per data from CMC and is up 2.54% in the last 24 hours. Also, as long as bulls remain in control, BTC’s price may soon approach the $30k barrier.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-84011" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-2.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-2-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/BTC_7D_graph_coinmarketcap-2-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>Moreover, the trading volume is up 92.18%. Prior to this Bull Run, bitcoin price was facing bearish pressure and was unable to make a positive move. If the bulls could drive the prices above the area of recent high at $29,250, then the price is likely to test $30,450 resistance level.</p>
<p>On the other hand, if the price goes below $27,420 level, then it will likely head towards $26,620 support level. Moreover, further decline will result in prices testing $26,000 level.</p>

Bitcoin Price Eyes $30,000 Level as Bulls Continue to Dominate

Table of Contents

TheNewsCrypto

Other articles published on Oct 17, 2023

Ethereum Whales Accumulating at Record Levels – Hints at Potential Bull Run Like 2017

Crypto Exchanges Turn to Lending to Buttress Dwindling Revenues

"A Revolution in the Binance Smart Chain World: The Uniting of Dogs, Bunnies, and Gorillas!"

Lawyers claim that Sam Bankman-Fried needs extra Adderall to concentrate throughout the trial.

AEO Stock Forecast: Can (NYSE: AEO) Make New Peaks By Year End?

opBNB-based AI Platform MyShell Closes $5.6M Funding Round with HashKey Capital Involved

Join our free newsletter for daily crypto updates!