Bulls Reload for Another Assault on $81K as Bitcoin's Price Rises

Key Takeaways

• Bitcoin hit $78,960 Sunday, gaining 1.5% as buyers challenged the $79,000 resistance zone.
• Coinglass logged $75.71M in crypto liquidations, while bitcoin open interest held at $54.83B.
• Bitcoin traders eye $81,000 next as September brings the Fed meeting and possible CLARITY Act action.

Bitcoin Reclaims Ground After Recent Pullback

Presently, at 10:10 a.m. Eastern time, BTC is trading for $78,650 per coin after touching the 24-hour peak at 9:30 a.m. Its price has been in the green over the last day after the recent pullback, and seven-day stats show BTC is up 1.8%. Since July 30, bitcoin’s price has climbed by 23.5% against the U.S. dollar. The day’s trading volume has registered around $13.1–$13.9 billion across major venues.

Despite the rise in bitcoin prices and a slew of altcoins, only a small amount of liquidations has occured in the derivatives sector. Coinglass.com stats show that over the past day, $75.71 million in crypto shorts and longs have been liquidated, resulting in 43,050 traders losing their positions. Bitcoin liquidations accounted for $21.84 million, of which $19.53 million were made up of short bets. The leading crypto asset’s futures open interest stands at $54.83 billion on Sunday.