Bitcoin price shoots up after good news from the US

The bitcoin (BTC) price rose sharply last night. The increase follows news from the United States. There, concerns about reaching the debt ceiling seem to have been allayed with a new deal.

Bitcoin price rises after positive news

BTC price spent the weekend mostly horizontal, just below $26,800. But last night at 1 o’clock the price finally managed to break above this. All in all, bitcoin rose in value nearly 2% to a final peak of $27,299.

At the time of writing, the price of bitcoin is $27,200 on crypto exchange Coinbase. The bitcoin price in euros on the Dutch crypto exchange Bitvavo thus amounts to €25,327.

The sudden acceleration up follows positive news from the US. There, President Biden and Republican Speaker of the House of Representatives Kevin McCarthy reached a deal about raising the debt ceiling. This has allayed the concerns of many investors. They feared that the US would run out of money, which would have a huge impact on the financial markets.

Double bottom bitcoin

With the increase, BTC also sets a bullish pattern through. On the 4-hour chart, the price formed a double bottom at $25,800. The second bottom in this formation was bitcoin on Thursday night from which the price could now rise about 5%.

For now, it is up to the bitcoin bulls to break the resistance zone between the current price level and USD 27,400. Above this, the next major hurdle is at $29,000 and then $30,000, according to crypto analyst Kaleo.

The most important bitcoin news

There has been a lot to read in the bitcoin news in recent days. Thus, the Bitcoin network has its first stablecoin. The Bitcoin Ordinals protocol allowed Stably to launch a stablecoin, StableUSD.

It has been a bit quiet lately when it comes to interest in crypto. For example, data from Google shows that interest is at its lowest point since December 2020. The interest in the Netherlands, on the other hand, is slightly above the global average.

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