Bitcoin

Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) matched 3-day highs at the July 26 Wall Street open as excitement built around the Bitcoin 2024 conference.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/ff9d433d-b17c-4228-9be5-b17242d87bed.png" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">BTC/USD 1-hour chart. Source: TradingView
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<h2 id="bitcoin-shrugs-off-mixed-pce-data">Bitcoin shrugs off mixed PCE data</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> confirmed BTC price highs of $67,963 on Bitstamp.
BTC price action shrugged off mixed United States inflation data to preserve gains throughout the Asia trading session.
This came in the form of the Personal Consumption Expenditures (PCE) Index, and showed spending surpassing expectations, joining strong unemployment data from the day prior.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/a3d2217b-7f92-458c-9de3-8f2a91112de3.png" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">Source: Skew
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Despite this, Bitcoin joined US stocks in heading higher, with BTC/USD up nearly 7% versus the <a href="https://cointelegraph.com/news/btc-price-inches-up-us-stocks-bitcoin-bulls-65k" rel="noopener noreferrer nofollow">prior day’s lows</a> at the time of writing.
With low-timeframe price action remaining rangebound, traders zoomed out to conclude that the overall picture favored Bitcoin bulls.
“Bitcoin has formed a massive descending broadening wedge, right around the previous cycle highs!” popular trader Jelle <a href="https://x.com/CryptoJelleNL/status/1816806422195167300" target="_blank" rel="noopener noreferrer nofollow">wrote</a> in one of his latest X posts.
<blockquote>
 “Price looks eager for a breakout -- and once it does, I expect the move to be sharp. First target: $85,000.”
</blockquote>
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/7e09e769-d1a2-4d42-b32a-7d034f67297e.jpeg" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">BTC/USD chart. Source: Jelle/X
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<a href="https://x.com/CryptoJelleNL/status/1816833852868092222" target="_blank" rel="noopener noreferrer nofollow">Another chart</a> saw Jelle projecting a $74,000 BTC price target based on liquidity across exchange order books.
For fellow trader CrypNuevo, the key target was $68,900 — the area immediately below a psychologically significant price level corresponding to Bitcoin’s old all-time highs from 2021.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/4c70d837-379a-4fae-9579-6e5c1a5b69a4.png" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">Source: CrypNuevo
 </figcaption>
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"The liquidations at $68.9k have increased a lot this week. We can confirm what we anticipated on Sunday: This week's drop was just a shakeout and a run for liquidity to gather even more liquidations at $68.9k area. We're going there," he <a href="https://x.com/CrypNuevo/status/1816783777558884764" target="_blank" rel="noopener noreferrer nofollow">added</a> in a further X post which featured liquidation data from monitoring resource CoinGlass.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/9b8dac01-7085-4073-9d53-a16f5c663d2a.png" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">Bitcoin liquidation heatmap. Source: CrypNuevo/X
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<h2 id="weekend-btc-price-volatility-expected-as-trump-addresses-bitcoin-2024">Weekend BTC price volatility expected as Trump addresses Bitcoin 2024</h2>
Despite the absence of institutional trading, the weekend looks set for volatility as United States Presidential Candidate Donald Trump takes the stage at the Bitcoin 2024 conference in Nashville, Tennessee.&nbsp;
Related:&nbsp;<a href="https://cointelegraph.com/news/bitcoin-traders-warn-btc-price-dip-62k-even-lower" rel="noopener noreferrer nofollow">Bitcoin traders warn BTC price can still dip to $62K or ‘even lower’</a>
Due at 2 pm Eastern time on July 27, Trump is already a bullish catalyst for crypto markets, having incorporated <a href="https://cointelegraph.com/news/bitcoin-price-rebounds-united-states-donald-trump-conference-nashville-btc" rel="noopener noreferrer nofollow">supportive policy</a> into his campaign.
With the weekly and monthly close drawing closer, popular trader and analyst Rekt Capital suggested that the upcoming weekend could prove key.
“Bitcoin successfully dipped into $65,000 and rebounded. Now let's see if Bitcoin now rallies to $71,500,” part of an <a href="https://x.com/rektcapital/status/1816834762142560394" target="_blank" rel="noopener noreferrer nofollow">X post</a> read.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/de0daf8d-8068-40a2-9755-5d85bcf0641e.jpeg" alt="Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day">
 <figcaption style="text-align: center;">BTC/USD chart. Source: Rekt Capital/X
 </figcaption>
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin bulls grill $68K as US rebound lifts BTC price 7% in a day

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