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Bitcoin Price Rallies Above $10,000: What Happened?
By Vincent Mislos
07/26/20 AT 11:25 PM
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KEY POINTS
Bitcoin moved past $10,000 for the first time since June 1
When Bitcoin rallied on Sunday, every other altcoin took a back seat
Traders are bullish on BTC in the coming days
Bitcoin’s price surged past $10,100 in a surprise rally Sunday, July 26, after the majority of the altcoins finished their own price rallies. The move suggested that selling has been exhausted and traders spilled their profits from altcoins back to the benchmark cryptocurrency.
Bitcoin rose to as high as $10,111 on crypto exchange Binance on Sunday after five days of price appreciation and almost 2 months of trading sideways in the $9,000 range. The initial move began on July 21, when the moving averages 7 and 25 crossed. The MACD also crossed on the same day, suggesting a bullish upward trend was forthcoming.
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https://www.ibtimes.com/bitcoin-price-rallies-above-10000-what-happened-3017193
