Analyst: Bitcoin rebounded 32 per cent at a low point from 1 July and returned to the 30-day average

10xResearch reported that bitcoin (BTC) had rebounded at a low point of $58,559 from 1 July to 32 per cent and had successfully returned to the 30-day average line. For the first time since the fall in June, prices have broken the average with real confidence. The current price of bitcoin is above the average moving line of 7 and 30 days, indicating an increase of 22.4 per cent over the past week. This round rebound was driven mainly by the doubling of the United States Treasury ' s long-term bond buy-back operation to at least $4 billion per buy-back, leading to a low return and a low dollar and a widespread boost to risk assets. In addition, Trump called for Congress to pass encrypted market structure legislation to bring policy benefits to the market at the White House meeting with key encryption executives. This market volatility triggered the liquidation of over $1 billion of empty space, further magnifying the growth of kinetic energy. At the same time, there was a net inflow of spot bitcoin ETF, which reinforced the upward trend。