Bitcoin Trades Above $78,600 as Buyers Target $80,000

invezz.com (Swedish)

Bitcoin trades above $78,600, up 2% in 24 hours, extending last week's 20% surge toward the $80,000 psychological resistance level. The rally was driven by improved liquidity expectations after US Treasury Secretary Scott Bessent announced increased long-duration bond purchases, strong institutional demand with $1.92 billion in weekly spot ETF inflows, and short covering. Core PCE inflation data Wednesday and Fed Chair Kevin Warsh's Jackson Hole speech Friday could determine next moves. Technical analysis shows Bitcoin consolidating above $77,000 with overbought conditions. A breakout above $82,800 could target $90,000, while key support sits at $73,400.


With a significance score of 1.6, this news ranks in the top 30% of today's 32285 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


Bitcoin Trades Above $78,600 as Buyers Target $80,000 | News Minimalist