Bitcoin is again trading above $20K, ETH rises above the $1,100 mark; support level confirmed after a whale bought BTC

On July 4, as the country celebrated its independence, Bitcoin (BTC) surpassed $20,000 for the first time in five days.

Data from TradingView and Cointelegraph Markets Pro showed that BTC/USD surged to $20,085 on the day, marking its biggest day since June 30.

The pair had been trading at approximately $19,000 for the whole of the long weekend, but bulls ultimately overcame the lack of Wall Street trading.

Despite possibly increased volatility due to smaller weekend order books compared to underlying volumes, Bitcoin was still up 3% on the day as of the time of writing.

Since breaching below $20,000, Bitcoin has successfully established bullish divergence on the daily time frame, according to well-known analyst Matthew Hyland.

a source for on-chain analytics In the meantime, Whalemap verified that whales had once again supported the market by purchasing coins at $19,200.

Whales, according to Cointelegraph, had shown a keen interest in prices directly below $20,000, ostensibly not waiting for the much-anticipated levels of $16,000 and below to materialize.

Michael van de Poppe, a contributor to Cointelegraph, continued, “Flipping $19.5K is a trigger for Bitcoin.”

In the meantime, altcoins profited from Bitcoin’s price increase, with Ether (ETH) increasing over 6% to surpass $1,100.

Others among the top ten cryptocurrencies by market cap generally experienced daily increases of about 5%.

The author’s thoughts and opinions alone, not necessarily those of, are conveyed in this article. Every investment and trading action carries risk, therefore before making a choice, you should do your own study.

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