Bitcoin Reaches $31k On The Last Day Of The Month

Bitcoin is trying to maintain higher support as the important day for the market is approaching. Bitcoin peaked at $31,000 on June 30 following the end of interest of nearly $6 billion in demand.

Option settlement results in BTC price trigger date. Data from TradingView showed BTC/USD hit the regional limit of $31,268 on Bitstamp before pulling back. The price of BTC improved in the end-of-quarter activity, the second largest in the history of Bitcoin, and analysts are interested to see its impact on the market. "It will be interesting to see how much money is transferred to the end in the future and whether OI is called or controlled --> because this will affect how people -trade from running (buying or selling BTC)," wrote the financial commentator. Tedtalksmacro in some areas. of related words. .

June 30 represents an important day for BTC traders around the world, with the option deadline just one of the important events. Macroeconomic data from the United States is also expected in the form of the Personal Expenditure (PCE) publication, which leads to monthly candles in the fourth quarter.

For the well-known trader and researcher Rekt Capital, a break above $29,255 will confirm a break in the period of the month.

#BTC is positioning itself for a Monthly Close above a resistance that had rejected price for the past three months

And now $BTC is holding comfortably above that same level (black)#Crypto #bitcoin pic.twitter.com/b42XYWfcLi
— Rekt Capital (@rektcapital) June 29, 2023

Likewise, the stability of the quarter at $ 28,872 is in focus, and Rekt Capital declares that the same level established both resistance in Q1 2023 and 2020, and support in 2021.

Data from security resource CoinGlass puts Bitcoin's Q2 gain now at 8% - still far behind Q1's performance of more than 70%.

Hoping That Bitcoin Continues To Rise

Others expect that despite what may fall, Bitcoin will still be able to reach new regional highs. One of them is Crypto trader Tony, whose goal is $32,000.

$BTC / $USD - Update #Bitcoin once again looking to work some magic and climb above that supply zone. Would be a Friday treat if we can manage to do that today .. pic.twitter.com/vBzeMvgXE4
— Crypto Tony (@CryptoTony__) June 30, 2023

Fellow trader Jelle admitted that the price of BTC has tried to support higher levels than higher precision, as these always meet with setbacks.

“ The bullish wicks of this combination can be scary, but we saw similar price action in the area around the red," he explained, looking back at a BTC / USD chart during the year. "Bitcoin hungry for upside next week. ”