RATE Group | Bitcoin Price Retakes $10K as Fresh Data Supports Giant $300K+ Bull Run
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Bitcoin Price Retakes $10K as Fresh Data Supports Giant $300K+ Bull Run

27 Jul Bitcoin Price Retakes $10K as Fresh Data Supports Giant $300K+ Bull Run

Posted at 10:22h in Bitcoin News by

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Bitcoin (BTC) price gained over $300 in just ten minutes on July 27 as markets rallied to take the largest cryptocurrency back above $10,000. 

Market visualization

Market visualization. Source: Coin360

Bitcoin network holds clues to price future

Data from Coin360 shows BTC/USD trending towards the psychologically important barrier after hitting local highs of $10,179 early Saturday. 

The sudden uptick ended a period of losses for Bitcoin holders, who watched as the pair descended to lows around $9,580 this week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Courtesy of Coin360

Bitcoin price remains around 4.7% down versus the start of last weekend, something which at least one major analyst now thinks could flip to the upside. 

Writing on Twitter, Tom Lee, senior market analyst at Fundstrat Global Advisors, highlighted next week’s presumed interest rate cut in the United States as a motivating factor for sending BTC higher. 

Previous weekends have sparked bearish runs, he noted, but this Federal Reserve move should…

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