{"id":47019,"date":"2021-07-31T14:38:11","date_gmt":"2021-07-31T11:38:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47019"},"modified":"2025-09-01T19:17:29","modified_gmt":"2025-09-01T16:17:29","slug":"bitcoin-price-corrects-after-rising-above-42400","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-corrects-after-rising-above-42400\/","title":{"rendered":"Bitcoin price corrects after rising above $42,400"},"content":{"rendered":"

In the night of July 31, Bitcoin prices rose from around $39,000 to $42,411 (Bitstamp) in a matter of hours.<\/p>\n

Trading volume surged.<\/p>\n

\"Bitcoin
Data: TradingView<\/a>.<\/figcaption><\/figure>\n

As of writing, the price had corrected. The asset trades in a sideways channel near the $41,800 level.<\/p>\n

Over the last 24 hours, digital gold rose 7.4%, according to CoinGecko<\/a>. Of the top-10 by market cap, the best performer was only Polkadot’s DOT.<\/p>\n

\"Bitcoin
Data: CoinGecko.<\/figcaption><\/figure>\n

Over a seven-day span, Bitcoin’s price rose 25% and outpaced all leading altcoins.<\/p>\n

The Fear and Greed Index moved into the green zone at 60.<\/p>\n

\"Bitcoin
Data: alternative.me<\/a>.<\/figcaption><\/figure>\n

On July 20, the price of the first cryptocurrency fell below the $30,000<\/a> mark, but then almost recovered the drop.<\/p>\n

In this context, Bloomberg Intelligence senior commodity strategist Mike McGlone predicted<\/a> that Bitcoin’s price is more likely to return to $60,000 than to fall to $20,000.<\/p>\n

Meanwhile, most participants in a Santiment poll on Twitter believe Ethereum will break $3,000 faster than Bitcoin will break $50,000.<\/p>\n

\n

#Bitcoin<\/a>‘s current market value ~$40,000#Ethereum<\/a>‘s current market value ~ $2,420<\/p>\n

\ud83e\udd14 Which price cross comes next?<\/p>\n

\u2014 Santiment (@santimentfeed) July 30, 2021<\/a><\/p><\/blockquote>\n