RATE Group | Bitcoin Staves Off Drop Under $7,500, Investors Remain Bullish
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Bitcoin Staves Off Drop Under $7,500, Investors Remain Bullish

03 Aug Bitcoin Staves Off Drop Under $7,500, Investors Remain Bullish

Posted at 01:07h in Ethereum News by

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Bitcoin saw a breathtaking run-up over the past few weeks, with the price of the asset rebounding off lows at $5,800 to a yearly high of $8,500 last week. Many attributed this most recent recovery to a series of positive technicals and fundamental indicators, such as the influx of institutional money, along with a resurgence in retail volume and adoption.

This quick reversal resulted in a sentiment shift within the industry, with many crypto experts and analysts beginning to believe that the Bitcoin bottom is in, and the bull run is just around the metaphorical corner.

Bitcoin Holds $7,500, Despite Altcoin Decline

However, since the over 30% run-up, prices have seen a slight recession, with the price of the foremost crypto asset currently holding at the $7,500 level. As it stands, Bitcoin is currently neutral on the day, seeing negligible movements over the past 24 hours.

However, what remains an interest to some is that exchange volume remains strong for the asset, as volume figures…

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