Market Wrap: Bitcoin Pushes to $11,450, DeFi Value Locked Now at $4B

Market Wrap: Bitcoin Pushes to $11,450, DeFi Value Locked Now at $4B


Bitcoin and ether continue to make gains Friday and stakeholders are increasingly investing their crypto into DeFi.

Bitcoin (BTC) trading around $11,333 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours.

  • Bitcoin’s 24-hour range: $10,974-$11,460
  • BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
  • Bitcoin trading on Coinbase since July 28.Source: TradingView

    Bitcoin’s price pushed as high as $11,460 on increased buying volume Friday, continuing its bullish run to cap a week of economic uncertainty. 

    Read More: Bitcoin on Track for Highest July Price Gain in 8 Years

    “The U.S. Q2 GDP results were rough and traditional markets are seeing a bit of risk off – a sharp move lower in yields and weakness in stocks,” Dan Koehler, liquidity manager for cryptocurrency exchange OKCoin, told CoinDesk. “It’s a crucial time for bitcoin, in my view.”

    Indeed, stocks are taking a beating Friday, with major global indexes down or flat.

    Bitcoin (gold), S&P 500 (blue), FTSE 100 (green) and Nikkei 225 (red) in July.Source: TradingView

    Bitcoin beat major

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