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<p>The post <a href="https://coinpedia.org/news/bitcoin-bounces-back-to-67800-bullish-signs-and-trumps-speech-fuel-the-surge/">Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> is back up to $67,800 and fighting the resistance after staying below the $65,000 zone. The lowest price point Bitcoin touched was $63,506.36 before it started riding back up. Let’s understand the reasons behind the rise of Bitcoin.</p> 
<h2 class="wp-block-heading" id="h-charts-showing-bullish-signs">Charts Showing Bullish Signs</h2> 
<p>The hourly chart shows small moving averages like 20 and 50 crossing over to the bigger averages 100 and 200, which is a bullish move. The price is moving in a very strategic order, taking corrections after every few hours. If the price does not take regular small corrections, it will take a big correction after reaching a particular point.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="524" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1024x524.png" alt="bitcoin 1 hour chart" class="wp-image-331904" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1024x524.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-300x154.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-768x393.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-1536x786.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart-150x77.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041509/Bitcoin-price-chart.png 2003w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-external-factors-boosting-btc-price">External Factors Boosting BTC Price</h2> 
<p>On a 4-hour chart, we can see Bitcoin is trying to get a closing on the support level of $67,800 so it can retest the latest support. This surge in price is also due to the reason that pro Crypro Presidential candidate <a href="https://app.coinpedia.org/donaldtrump" target="_blank" class="profile-details">Donald Trump</a> <span class="company_user_profile"><span class="profile_data"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"></span> <span class="company__wrapper"> <span class="company__content"> <span class="profile_link_element"><a href="https://app.coinpedia.org/donaldtrump" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a></span> <span class="company_logo"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/default.png" class="user_profile_img" alt="user_profile_img" title="user_profile_img"> <span class="company-name">Donald Trump</span> <span class="profile_designation"> </span> <span class="company-details">Donald John Trump, an American politician, media personality, and businessman, served as the 45th President of the United States from 2017 to 2021. Note: His Designation Is Former President</span> <span class="company_mail"></span> <span class="company_category"><span>President</span></span> <span class="profile-company-social"> </span> </span> </span> </span> </span> would be speaking at the Bitcoin conference 2024 going on in Nashville on Saturday. Along with that, the <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a> are also seeing a rise in inflows. All these sentiments are showing that investors are regaining their trust in Bitcoin.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="520" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1024x520.png" alt="bitcoin 4 hourly chart" class="wp-image-331905" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1024x520.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-300x152.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-768x390.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-1536x780.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart-150x76.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041606/bitcoin-4-hourly-chart.png 1963w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-technical-indicator-support-bullish-outlook">Technical Indicator Support Bullish Outlook</h2> 
<p>In the 4-hourly chart, we can see a crossover in the MACD chart that shows the bulls are getting in power. On the other hand, if we check the liquidation data of Bitcoin, we can see a huge number of short traders got liquidated, indicating the bullish market movement. </p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" width="1024" height="282" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1024x282.png" alt="COinglass bitcoin" class="wp-image-331907" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1024x282.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-300x83.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-768x212.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-1536x423.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data-150x41.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041830/Liquidation-data.png 1604w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : CoinGlass
  </figcaption>
 </figure>
</div> 
<p>Data from IntoTheBlock shows 93% of the people are in the money for Bitcoin and 7 percent are “at the money”.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="396" height="316" src="https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money.png" alt="" class="wp-image-331906" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money.png 396w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money-300x239.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/27041641/holders-in-money-150x120.png 150w" sizes="(max-width: 396px) 100vw, 396px">
  <figcaption class="wp-element-caption">
   Source : IntoTheBlock
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-current-market-conditions">Current Market Conditions</h2> 
<p>At the time of writing, Bitcoin is trading at a price of $67,988 with a rise of 3.38% in the last 24 hours, even though the trading volume of BTC has reduced by 20.32%. The Fear and Greed Index is at 59 and has the market dominance of 55.4%.</p> 
<h2 class="wp-block-heading" id="h-what-to-expect">What to Expect</h2> 
<p>Historic data shows that the market has a tendency of taking a small correction after it surges and breaks a resistance. It is required so the market can retest the latest support. As of now, the price of Bitcoin is exactly at the support zone. And before it can proceed towards the $68,000 resistance zone it might need to consolidate at this zone for a few hours. Also, watch out for <a href="https://coinpedia.org/news/bitcoin-conference-2024-what-to-expect-donald-trumps-upcoming-speech/" target="_blank" rel="noreferrer noopener">Donald’s speech</a> at the Nashville conference, it can give a sudden pump to Bitcoin.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/bitcoin-conference-2024-michael-saylor-reveals-major-bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin Conference 2024: Michael Saylor Reveals Major Bitcoin Price Prediction</a><br></p>

Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge

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