{"id":562792,"date":"2024-08-09T10:30:13","date_gmt":"2024-08-09T10:30:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=562792"},"modified":"2024-08-09T08:22:49","modified_gmt":"2024-08-09T08:22:49","slug":"bitcoin-breaks-above-60k-as-new-addresses-suggest-renewed-interest-from-retail-investors","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-breaks-above-60k-as-new-addresses-suggest-renewed-interest-from-retail-investors","title":{"rendered":"Bitcoin Breaks Above $60K As New Addresses Suggest \u201cRenewed Interest\u201d From Retail Investors"},"content":{"rendered":"

The Bitcoin price climbed above $60K in the last 24 hours following a 6% <\/span>jump<\/span><\/a> as IntoTheBlock says the uptrend in new crypto addresses in recent weeks might be a sign of “renewed interest” from retail investors.<\/span><\/p>\n

“The number of daily new addresses has trended downward” since November 2023, IntoTheBlock said in an Aug. 8 X <\/span>post<\/span><\/a>. “However, the trend seems to be shifting, with the number of new addresses trending upward in more recent weeks,” the on-chain monitoring firm added. <\/span><\/p>\n

\"August<\/p>\n

Over $158M Liquidated From Short Positions<\/span><\/h2>\n

The <\/span>Bitcoin<\/span><\/a> price managed to rise to an intraday high of $62,673.76 throughout the past day of trading. This was after it established its low for the same period at $56,740.87. BTC has pulled back since it briefly broke above $62K to trade at $60,872.91 as of 3:45 a.m. EST.<\/span><\/p>\n

Overall, crypto prices rose in the last 24 hours. This resulted in over $158.1 million being liquidated from short trades in the last 24 hours, according to <\/span>CoinGlass data<\/span><\/a>. Meanwhile, only $64 million was wiped out from long positions during the same period.<\/span><\/p>\n

Analysts Bullish On Bitcoin, But JPMorgan Remains Cautious<\/span><\/h2>\n

Renowned trader and analyst Michael van de Poppe predicted in an Aug. 8 <\/span>X post<\/span><\/a> that a weekly candle close for this week above $57K could signal that the market leader has established its bottom for the latest correction.<\/span><\/p>\n

\n

#BTC<\/a> <\/p>\n

Bitcoin has successfully broken above $60600<\/p>\n

Dips into $60600, if any at all, would constitute a retest attempt of that level<\/p>\n

Generally, continued stability above $60600 and BTC will be able to revisit the $65000 (blue) over time$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> https:\/\/t.co\/mrcMTItdHb<\/a> pic.twitter.com\/CM811uBoto<\/a><\/p>\n

— Rekt Capital (@rektcapital) August 8, 2024<\/a><\/p><\/blockquote>\n