Bitcoin price tags $62.3K nine-day high after global stocks hit historic record
Bitcoin (BTC) saw new July highs on Friday as bulls kept pushing over the US holiday period. Key points:Bitcoin sustains upside momentum as BTC price action nears its 200-week moving average.That trend line now forms the centerpoint of a “strong resistance area.”Global equities hit record levels as Fed rate-hike odds simmer on weaker jobs data. Bitcoin buyers “chasing” as BTC price eyes key trend line Data from TradingView showed BTC/USD reaching $62,295 on Bitstamp, its highest since June 24.BTC/USD four-hour chart. Source: Cointelegraph/TradingView US markets were closed for the Independence Day holiday, with the Dow Jones closing at record highs the day prior. As noted by trading resource The Kobeissi Letter, the global stock market cap also hit new all-time highs. “Global equities are in the midst of one of the most powerful rallies in history,” it wrote in a post on X.Source: The Kobeissi Letter/X Commenting on the latest BTC price action, X commentator Exitpump eyed “controlled slow buying” on exchanges. “Looks good for continuation higher, although keeping in mind 62K - 62.5K as a strong resistance area,” they told X followers.BTC/USD order-book data. Source: Exitpump/X Trader Daan Crypto Trades focused on the 200-week simple moving average (SMA), currently at $62,652, for the weekly candle close. “It is