Yesterday, July 18, the price for the main cryptocurrency jumped by more than $1,000 in just 30 minutes. As a result, the BTC rate rose from 9,330 US dollars to 10,400 US dollars. This sudden rally may be due to the massive closure of short positions and profit-taking at BTC. As we can see, yesterday the rate dropped to the mark of $9,280 at 2:00 pm GMT, then growth began, which turned into a parabolic stage.
Against this background, the level of BTC dominance also rose by 0.4% in this short period of time. This data can be found on the CoinMarketCap website.
Certainly this growth shows all market participants that breaking through the resistance level of 9,000 US dollars is now unlikely, but still the price of Bitcoin needs to be surpassed by 11,000 US dollars to make the key indicators stop showing a bearish flag.
At the time of this writing, Bitcoin is trading at about $10,400, which shows a 5% profit in the last 24 hours.
We want to remind: