Bitcoin testing $60,000 level, Coinbase Premium data indicating potential growing interest from U.S. buyers.

From Investing.com

August 8, 2024 5:00 PM:

Bitcoin (BTC) is testing the $60,000 level after a recent drop, spurred by increased U.S. investor activity, according to Coinbase Premium data. The on-chain indicator has risen from negative values to 0.1%, showing potential growing interest from American buyers. Coinbase Premium hit 0.4% during BTC’s peak at $70,000.
The recent price surge led to $213 million in crypto liquidations, with almost half being short positions. BTC saw 61% of liquidated positions were shorts in XBT/USD pairs. As market sentiment improves post-collapse, traders are becoming more optimistic. On-chain analysts cite positive factors like BTC’s role in the U.S. presidential race and the absence of major sellers.
Real Vision CEO Raoul Pal remains bullish on BTC, seeing the recent price drop as a “shakeout” opportunity rather than a reason to sell. Analysts point to reasons to be positive about Bitcoin’s future, pointing out potential catalysts for further price growth.

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