Bitcoin buyer pushes BTC price past $38K as traders demand key breakout
Bitcoin experienced a brief spike above the $38,000 mark as a new low-timeframe battle over BTC prices unfolded.
Bitcoin bulls maintained pressure as the cryptocurrency approached 18-month highs, with analysis pointing to increased buyer interest. The price trajectory of Bitcoin showed an upward trend during the Asia trading session, primarily rooted in derivatives markets. Notably, there were indications that a single entity was driving the push beyond $38,000. As momentum flagged, traders awaited a higher high on lower timeframes to break through the current ceiling. Some analysts remained optimistic, with $40,000 identified as a key level to watch, and others saw $38,000 as a critical point for Bitcoin trading. The RSI also continued to provide positive signals for further upside.