Bitcoin (BTC) Price Hit $30,000 Exactly After 10 Months

Bitcoin price has finally hit $30,000. In the last 24 hours, the BTC price soared 6% to a 10-month high to hit the $30,000 psychological level at around 00:30 UTC on April 11.

Interestingly, the Bitcoin price rally has come exactly after 10 months as it was trading at $30,000 on June 10 last year. Bitcoin price has retraced from the $30,000 and is currently trading at $30,146. The 24-hour low and high are $28,189 and $30,200.

CoinGape Media first reported that Bitcoin price to hit $30,000 this week in another massive move. Technical, macro, and on-chain analysis indicated an upcoming bullish breakout.

Several notable analysts including Willy Woo, Michael van de Poppe, and Ali Martinez also pointed out macro indicators and on-chain data hinting at massive price movement this week.

Bitcoin Macro Index crossed above the key level that indicated the “re-accumulation” phase of the Bitcoin cycle. Bitcoin Adjusted SOPR (aSOPR) (90d) on-chain metric moved above 1, which signals a bull market. In 2015, 2019, and 2020, it led to 6,110%, 150%, and 579% gains respectively. aSOPR recently moved above 1 suggesting BTC readies to go parabolic.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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