With an initial push by bulls, the market saw BTC surging across $31000 before settling below the level, as investors witnessed a positive crypto drive.
Positive news coming in from the United States economy, coupled with Fidelity Investments applying for a spot Bitcoin ETF, has worked wonders for the crypto market. The market saw a long crypto drive, with BTC crossing $31000 momentarily. It has retracted back but looks firm above the $30700 mark currently.
ETH also traded above $1850, rising by over 1.5% in the last 24 hours. Its market cap has crossed $226 billion in the current upsurge. The US economy’s growth was recorded officially at 2% for the first quarter of 2023, which could have generated a positive trigger across the market.
Moreover, two giant corporations Fidelity and Blackrock joining the Bitcoin ETF race have calmed anxious investors. Bulls could now look forward to pushing BTC beyond its present resistance, which is at $30750. Its support ranges around $30420 now.
Litecoin and Solana also saw big gains, while some, like XRP, BNB, and Polygon, were also trading in the green. The global crypto market cap was trading at $1.23 trillion, increasing by 2.3%. Bitcoin’s share was significant at $595 billion.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30700 on June 30, 2023, with BTC/USD up by around 0.9% in the previous 24 hours. BTC/USD is trading above its 20-day EMA (27,936.54) as BTC’s 24-hour volume increased above $17 billion. Bitcoin has seen around 85.66% returns on a year-to-date basis.