Bitcoin tops US$63K after Trump comments
- Bitcoin climbed above US$63,000 after recovering from recent selling pressure linked to Strategy's Bitcoin sales.
- US President Donald Trump described himself as a supporter of cryptocurrency and suggested digital assets could play a role in Treasury accounts.
- Markets are now watching whether Bitcoin can break above the US$65,000 resistance level.
Bitcoin (CRYPTO:BTC) rose above US$63,000 after recovering from recent selling pressure, with comments from Donald Trump adding to positive market sentiment.
The recovery followed Strategy (NASDAQ:MSTR) selling 3,588 Bitcoin for about US$216 million between 29 June and 5 July, reducing its holdings to 843,775 BTC while retaining US$2.55 billion in reserves.
“It’s a massive industry,” said Donald Trump, adding that digital assets could become “a possibility for Treasury accounts.”
Market attention has shifted to whether Bitcoin can overcome technical resistance near US$65,000 after the cryptocurrency recovered despite recent sales by Strategy and the reported sale of about US$43 million in Bitcoin by the Bhutan government.
Bitcoin remains above key support near US$61,500, with traders closely watching whether it can sustain momentum above US$65,000, and as Bitcoin (CRYPTO:BTC) is a cryptocurrency there is no share price available.
Technical indicators cited in the report showed the four-hour relative strength index near 67, suggesting bullish momentum while remaining below levels typically associated with overbought conditions.
Analysts said future price movements may depend on how the market absorbs any additional Bitcoin sales under Strategy's proposed digital credit framework alongside broader investor demand.
At the time of reporting, Bitcoin price was $63,794.93.
