BTC price gains pass $30,400, marking the largest cryptocurrency’s highest levels since mid-April.
Bitcoin price destroys traces of multi-week downturn
BTC price action continued to heat up throughout the day as bulls made the most of strength, which had come thanks to various announcements of legacy finance applying to launch a Bitcoin exchange-traded fund (ETF).
In so doing, BTC/USD erased many weeks of downside, adding over 20% versus local lows below $24,800 seen on June 15.
As traders lined up short-term targets, on-chain monitoring resource Material Indicators focused on $30,000 as an important level to overcome.
Uploading a print of the BTC/USD order book on Binance, it noted that “resistance at $30k is building.”
“Watching to see how much bid liquidity moves in to the active trading range to serve as support,” it commented.
“Don’t really expect #JPow to reveal any surprises with his testimony, but these events usually deliver some volatility.”
BTC/USD order book data for Binance. Source: Material Indicators/Twitter
Source : [Bitcoin price taps $30K for first time since April](cointelegraph.com/news/bitcoin-price-taps-30-k-first-time-since-april) by Cointelegraph By William Suberg - 78Cointelegraph.com News by Cointelegraph By William Suberg / June 21, 2023