As of today, July 10, 2024, Bitcoin is trading around $30,600. Over the past 24 hours, it has increased by approximately 1.5%, maintaining relative stability compared to recent performance.

Key points from the current analysis:

Bitcoin faces resistance at $31,000, and if it breaks this level, it could aim for $32,500. On the downside, support is found at $29,500, with a stronger support level at $28,000 if it declines further.

The sentiment is cautiously optimistic due to institutional interest and macroeconomic factors. Potential regulatory developments, like the approval of a Bitcoin ETF in the US, could significantly impact the price.3. Interest rate decisions by the US Federal Reserve and global economic stability are influential. Favorable economic conditions may support Bitcoin's growth, while unfavorable conditions could exert downward pressure.

#BTC_Bounce_Back_to_57k #BinanceTournament

The current trading activity suggests that Bitcoin's price action is in a consolidation phase, awaiting major market catalysts for a decisive move.$BTC