Bitcoin rose 1.5% on Sunday to an intraday high of $78,960 as buyers pushed back toward the $81,000 zone the asset fell from days earlier. Liquidations stayed light even as futures open interest held near $54.83 billion, and traders are now watching a September calendar loaded with the Fed meeting and possible CLARITY Act action.
Bitcoin Reclaims Ground After Recent Pullback
Bitcoin climbed 1.5% to an intraday high of $78,960 on Sunday, attempting to recover ground after falling from the $81,000 range a few days earlier. At 10:10 a.m. Eastern time, the asset was trading at $78,650 after touching its 24-hour peak at 9:30 a.m., and seven-day figures show it up 1.8%. Since July 30, bitcoin has gained 23.5% against the U.S. dollar. The day's trading volume ran $13.1 billion to $13.9 billion across major venues.
Despite the rise, liquidations across the derivatives market totaled $75.71 million over the past day, wiping out 43,050 traders' positions, according to Coinglass. Bitcoin accounted for $21.84 million of that total, of which $19.53 million came from short bets. Bitcoin's futures open interest stood at $54.83 billion on Sunday.
Technicals Keep Bitcoin's Uptrend Intact
Bitcoin's price sits above its 20-day, 50-day, and 200-day moving averages, and the daily MACD remains positive, pointing to continued trend strength. The daily relative strength index is neutral near 73, while the stochastic reading sits higher, around 83.
Immediate resistance sits in the $79,000 range and the $81,000 rejection zone, and a break above could reignite last week's rally. Near-term support is at $77,500; a break below that could bring $73,000 to $74,650 into play, with deeper support near $68,000 to $69,000 close to the 200-day average.
September Brings a Packed Calendar of Market Catalysts
Traders are watching liquidity, volume, and ETF inflows for signs of direction into September. Volatility could pick up around macroeconomic data or crypto policy headlines, alongside developments in the Middle East tied to the Strait of Hormuz.
The month also brings the Fed meeting and the possibility of Senate action on the CLARITY Act, which could go either way.
Source: Bitcoin News
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