Bitcoins Rollercoaster Ride: Defends $30K Amidst Ripples SEC Victory

Jul 16, 2023 4:21 AM

Bitcoin, Crypto Market, Crypto Regulations, Financial, XRP

BTC Defends $30K: Bitcoin experienced enhanced volatility at the end of the business week, following Ripple’s victory against the SEC. It initially jumped to a 13-month peak of over $31,800 but retraced and dipped below $30,000 for the third time. However, the bulls stepped up and helped BTC reclaim the $30,000 milestone.

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Key Points:
1. Ripple’s victory: Bitcoin’s volatility followed Ripple’s landmark victory against the SEC, which resulted in a jump in BTC’s price.
2. Retracement and dip: BTC retraced by several hundred dollars and dipped below $30,000 for the third time.
3. Bullish response: The bulls stepped up and helped BTC reclaim the $30,000 milestone.
4. Weekend dip: Bitcoin dipped to $30,050 earlier today but managed to maintain that level.
5. Market cap and dominance: Bitcoin’s market cap remains at $590 billion, and its dominance stands at 48.5%.

Hot Take: Despite the volatility, Bitcoin successfully defended the $30,000 level and continues to hover above it.