Bitcoin Breaks above Critical Resistance After weeks of rangebound price movement, the value of Bitcoin (BTC-USD) has finally climbed past the longstanding resistance point of $24,000 and is currently trending just above the $24,500 mark. Over the past seven sessions, BTC’s value has risen by approximately 7.20%, with trading volume surging 53.20% during the last 24 hours. The value of BTC began its latest rally soon after the July CPI data revealed that consumer costs remained unchanged, putting U.S. inflation at 8.5%. As Bitcoin’s price rebounds, the latest report from Glassnode indicates that investors are on an accumulation spree.
