binance-banner.jpg

Bitcoin Price Rises to $9,500 as $2 Trillion Fed Stimulus Expected


Bitcoin Price Rises

Bitcoin price broke out from a tightening range to rally above $9,500 but will it hold above the crucial resistance level? Within the last hour Bitcoin (BTC) price broke out of its sideways range to briefly push above the $9,500 level. The move comes after a slight uptick in daily trading volume since Monday (July 20) and traders will now watch to see if the top-ranked digital asset on CoinMarketCap can hold $9,500 and pursue a daily higher high above $9,775. Perhaps the move is purely technical as Bitcoin price has been compressing into a tighter range of higher lows and lower highs since early June, or possibly investor sentiment has been buoyed by recent events in the news. Earlier today Cointelegraph reported that the Office of the Comptroller of the Currency (OCC) has given permission to allow federally chartered U.S. banks to provide clients with crypto custody services. This is a positive step forward as it removes some of the rigamarole involved in acquiring and storing cryptocurrency, meaning, crypto investors will eventually be able to hold their digital assets in the same bank where they keep their checking, savings, and brokerage accounts. Read More...