Bitcoin (BTC) reached new highs for the month on September 18, as a strong close to the week signaled a bullish start to Wall Street trading. The price of BTC increased by over 3% on the day, breaking the $27,000 mark for the first time in September. Traders and analysts observed the return of positive momentum among Bitcoin bulls, with altcoins also showing signs of waking up. The Wall Street open was anticipated as a potential catalyst for further upward movement. However, some cautious traders pointed out the rising open interest in Bitcoin, which could lead to a potential retracement if spot bids disappear. To ensure a sustained upward trend, bulls need to reclaim and hold higher levels into the September monthly close. Despite the strength of the US Dollar Index (DXY), Bitcoin remained resilient and unaffected. The DXY reached levels above 105, a level not seen since mid-March, while Bitcoin continued to climb. It is important for readers to conduct their own research and exercise caution when making investment decisions.
BTC price hits $27.4K as Bitcoin open interest matches Grayscale peak
