Bitcoin News
By Julie Binoche
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The $82,300 Line Everyone Is Watching. To push higher, Bitcoin needs to hold above $78,800.
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Bitcoin Hyper Raises $33 Million in Presale. Away from the price charts, a separate Bitcoin story is developing.
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Bitcoin hit $79,000. A golden cross just formed on its chart, and traders are watching closely to see if history repeats itself.
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The pattern — where the 50-day moving average crosses above the 200-day — has historically preceded some of Bitcoin's biggest runs.
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To push higher, Bitcoin needs to hold above $78,800. If it loses that level, immediate support sits between $76,000 and $77,600.
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That's a lot of "ifs." And the macro picture makes each one harder.
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Federal Reserve Chair Kevin Warsh spoke at Jackson Hole recently, and his remarks on inflation didn't exactly calm nerves.
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And yet — nearly $3.8 billion has flowed into Bitcoin ETFs recently. That's not a bearish signal.
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Read also: New York Town Considers Moratorium on Bitcoin Mining and AI Data Centers
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Long-term holders aren't helping clarify things either. Even with Bitcoin near multi-week highs, they're not selling.
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Away from the price charts, a separate Bitcoin story is developing. Bitcoin Hyper — ticker $HYPER — is building a Bitcoin Layer 2 solution and has pulled in over $33 million…
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Layer 2 solutions for Bitcoin have attracted growing interest across the industry. Bitcoin's base layer is deliberately limited — that's part of what makes it secure — but that…
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The $33 million presale figure is notable. It's not pocket change, and it says something about appetite for Bitcoin infrastructure plays right now.
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Related: Liquid Recovers $270 Million, But 598 Bitcoin Still Missing After Hack
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Whether Bitcoin Hyper can actually deliver on the technical promises is unclear. Presale hype and working product are two different things, and the Layer 2 space for Bitcoin is…
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