Bitcoin Surges Past $56,000, Continues Bullish Momentum

IconCryptoNewsTerminal Staff08 Jul, 2024

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Bitcoin Surges Past $56,000, Continues Bullish Momentum

Bitcoin Breaks $56,000 Barrier According to Cryptonews Terminal's market monitoring, Bitcoin (BTC) has surpassed the $56,000 mark. As of this writing, BTC is trading at $56,041.95 on the Binance USDT market. Bullish Momentum Continues This latest surge extends Bitcoin's bullish momentum, which has seen the cryptocurrency climb steadily since the start of the year. Analysts attribute this rise to a combination of factors, including institutional adoption, the limited supply of BTC, and growing demand from retail investors. Key Resistance Levels While Bitcoin has broken past the $56,000 level, it faces resistance at $58,000 and $60,000. If it can overcome these hurdles, it could potentially test its all-time high of $64,800 set in April 2021.

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