$BTC Bitcoin Surpasses $78,500 🔥🔥🔥

Bitcoin gained 9.4% in the last trading session, surpassing the $78,500 level. Rising from $71,122 to $78,524 during the day, BTC tested its highest level in the last two months. Trading volume reached 22,540 BTC and 1.66 billion USDT, while the BTCUSDT contract in the perpetual market also increased by 9.56%, mirroring the spot price.

Factors Behind the Rise

This sharp rise is driven by the crypto summit held at the White House and President Trump's statement that "the US is the undisputed leader in Bitcoin and crypto." These messages of support, coming before the Senate vote on the CLARITY Act on September 15th, positively impacted market sentiment. Furthermore, the liquidation of approximately $1.44 billion worth of positions (mostly short positions) in the last 24 hours was another factor accelerating the rise.

Technical Outlook

The price has risen above the short-term moving averages. According to the SRL(5,5) indicator, the $82,828 level stands out as a potential upward target. In the short term, $78,524 is being watched as resistance, while $71,122 is being maintained as a support point. The RSI indicator approaching the overbought region is considered a factor increasing the possibility of a short-term correction.

Bitcoin's surpassing the $78,500 level indicates that the upward momentum in the market is strengthening. The rise of the Fear and Greed Index to 62, moving into the "Greed" region, signals increased investor optimism. Developments regarding the CLARITY Act and the course of trading volume in the coming days will be decisive in determining the direction of the price.

This post is not investment advice and is for informational purposes only regarding market conditions.

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