Newsflash: Bitcoin Price Goes Vertical Near $7,500, Hits 5-week High

Bitcoin price
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Bitcoin price has skyrocketed on Tuesday’s evening trading session, making upward gains to peak at $7,483.

The price of bitcoin, the world’s first and largest cryptocurrency, exploded to its highest trading levels since the first week of June after gaining nearly $700 in less than an hour on Tuesday evening (UTC).

After trading around resistance at $6,700 through much of the day, a sharp rally led to bitcoin price spiking from $6,773 at 17:30 (UTC) to a high of $7,483 in a 40-minute period, pointing to a large buildup of bulls taking positions.

At press time, bitcoin price is trading to the dollar above $7,400.

Click here for a wider analysis of Tuesday’s spike. Click here for a real-time bitcoin price chart.

Featured image from Shutterstock.

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POSTED IN: Bitcoin Price News, News
Samburaj is the Editor for CCN, among the earliest and foremost publications covering blockchain, cryptocurrency and financial technology news. He has authored over 1,500 articles for CCN and is invested in Bitcoin. Email: [email protected]