• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
3 bitcoin

3 Reasons Why Bitcoin is Back Above $10,000

Osato Avan-Nomayo
by Osato Avan-Nomayo
6 years ago
·
Posted in Bitcoin, Bitcoin Price, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin rose above $10,000 as July came to an end but that wasn’t enough to prevent BTC’s first monthly loss in 2019. Here are three likely reasons responsible for the move above $10k.


Fed Rate Cut

For the first time in a decade, the U.S. Federal Reserve cut interest rates by a quarter of a percentage point (0.25%). After a momentary slip, BTC above $10,000 within the space of five hours.

Many commentators have argued that a rate slash by the Fed would be net positive for bitcoin. Lower interest rates usually lead to increased liquidity in the financial market — a trend that could trigger increased inflow into bitcoin.

Bitcoin Can’t be Banned

Bitcoin’s rise to a five-day high above $10,000 could be attributed to a slew of positive comments about the top-ranked crypto within the past week. Mike Crapo, chairman of the U.S. Senate Banking Committee even said that the country couldn’t ban bitcoin.

There is also some positive bitcoin news coming out of China despite the country’s ban on crypto trading and ICOs. The Bank of China recently published a mostly favorable infographic describing BTC and the reasons behind its increase in price.

bitcoin above $10,000

Another $10k Bull Trap?

The current rise above $10,000 might also be another false start for bitcoin in the Summer. As previously reported by Bitcoinist, July and August are historically lean months for BTC.

Also, there have been reports of massive liquidation of longs on BitMEX, running into about $50 million. Some commentators even attributed the late July BTC flash crash to these liquidations on long positions by the exchange.

Bitcoin has attempted to break above the $10,100 level on five different occasions since slipping below $11,000 in mid-July. Any tangible rally for bitcoin would require a move above this resistance point.

As at press time, the crypto market as a whole has gained about $8 billion over the last 24 hours.

Can Bitcoin Hold $10k in the Short Term?

There is the still the matter of the CME gap yet to be filled at around the $8,500 price mark. Trading volume is also significantly lower than the levels recorded in early July.

Despite any short-term struggles, the bull case for bitcoin continues to remain valid with some commentators predicting a new all-time high for BTC before the end of the year.

Bitcoin is up more than 170% since the start of 2019 and bulls will be hoping for a better run in August and a return to the trend of monthly gains.

Do you think BTC will be able to stay above the $10,000 price level in the short term? Let us know in the comments below.


Images via Shutterstock, Bitcoin charts by Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Osato Avan-Nomayo

Osato Avan-Nomayo

Follow

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Full Profile

Related Posts

Bitcoin

Bitcoin To Retain Bullish Bias If Price Holds Above $114K — Here’s Why

1 day ago
Bitcoin LTH Profitability Outpaces STHs: Is A New Bullish Phase About To Commence?

Bitcoin LTH Profitability Outpaces STHs: Is A New Bullish Phase About To Commence?

1 day ago
Bitcoin

5 Years Left: Solana Co-Founder Urges Bitcoin Community To Brace For Quantum Threat

2 days ago
Bitcoin

NBA Star Strikes Gold In Forgotten Bitcoin Stash – Details

2 days ago
Bitcoin bombshell

Bitcoin Price Eyes Demand Zones In Higher Timeframes – Here’s The Target

3 days ago
Bitwise

Bitwise Targets Wall Street With Stablecoin And Tokenization ETF Filing

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Snorter надхвърли $4 милиона след...

    7 hours ago
  • ตัวละครสัตว์ Snorter หน้าตลกโผล่พ้นกำแพงอิฐ

    นักลงทุนแห่เข้าซื้อ...

    4 days ago
  • Little Pepe ($LILPEPE) presale crosses $25 million milestone as investors eye exchange listings and meme coin Layer-2 blockchain growth.

    Little Pepe Presale Surges Past $25M as Stage 12 Sells Out...

    4 days ago
  • As Demand Grows for Ease, MEXC Adds Apple Pay and Google Pay for Instant Crypto Purchases

    As Demand Grows for Ease, MEXC Adds Apple Pay and Google...

    4 days ago
  • Whales Buy Nearly $100K of $HYPER — Is This the Next 1000x Crypto?

    Whales Buy Nearly $100K of $HYPER — Is This the Next...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.