Bitcoin’s sharp recovery to $30,000 indicates that bulls are buying BTC and altcoins at lower support levels. Traders are awaiting the start of a new trending move as the price remains range-bound. Bitcoin’s volatility dropped to a 6-year low in July, according to a report by ARK Invest. The long-term outlook for cryptocurrencies remains attractive, with the possibility of the first spot Bitcoin exchange-traded fund being approved in the US in the next four to six months. Resistance levels continue to impact Bitcoin and altcoins, but if bulls can overcome these roadblocks, a rally could be possible.
