Bitcoin (BTC) price rose sharply last night. The increase follows news from the US. There, concerns about reaching the debt ceiling appear to have been allayed by the new deal.
Bitcoin price rises after positive news
BTC price spent the weekend mostly flat, below $26,800. But last night at 1am the price finally broke through this. Overall, Bitcoin rose nearly 2% to a final high of $27,299.
At the time of writing, the price of Bitcoin on crypto exchange Coinbase is $27,200. The price of Bitcoin in Euros is €25,327 on Dutch crypto exchange Bitvao.
The sudden acceleration follows positive news from the US. There, President Biden and Republican House Speaker Kevin McCarthy reached out to one another. Agreement About raising the debt ceiling. This has eased the worries of many investors. They feared that the US would run out of money, which would have a huge impact on financial markets.
Weekend pump thanks to the White House$BTC pic.twitter.com/sQlv1LvKsD
— Rager (@rager) May 28, 2023
Double Bottom Bitcoin
Along with the increase, BTC also sets up Positive Method by. On the 4-hour chart, the price made a double bottom at $25,800. The second bottom in this formation is Bitcoin on Thursday night, from which the price may now rise 5%.
#Bitcoin 🔥🔥🔥
Potential BTC Double Bottom Formation. 🥳🥳🔥🚀
I bought more $BTC Here in the spot market.
Not financial advice pic.twitter.com/lWwKqImNeS
— Seth (@seth_fin) May 25, 2023
For now, it is up to the Bitcoin bulls to break the resistance zone between the current price level and USD 27,400. Above this, according to crypto analyst Kaleo, the next major barrier is $29,000 and $30,000.
Recover and Accelerate $27K https://t.co/LimhbEUY9Y pic.twitter.com/djhBcLbU2Y
— Kaleo (@CryptoKaleo) May 26, 2023
The most important bitcoin news
There has been a lot to read in Bitcoin news in recent days. Thus, the Bitcoin network has its first stablecoin. The Bitcoin Ordinals protocol allowed Stable to introduce a stablecoin, StableUSD.
It’s been a bit quiet lately when it comes to interest in crypto. For example, data from Google shows that interest is at its lowest point since December 2020. On the other hand, interest in the Netherlands is slightly higher than the world average.
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