Bitcoin climbs to $78,960 as bulls target $81K

Bitcoin (BTC) surged 1.5% on Sunday, reaching an intraday high of $78,960 before encountering resistance around the $79,000 level. The move follows a recent pullback that saw the price dip below the $81,000 range.

Price action and market volume

At 10:10 a.m. Eastern time, BTC was trading near $78,650 after touching the 24‑hour peak at 9:30 a.m. The cryptocurrency has posted a 1.8% gain over the past seven days and a 23.5% rise since July 30. Daily trading volume across major venues was estimated between $13.1 billion and $13.9 billion.

Derivatives activity and open interest

Coinglass reported $75.71 million in liquidations across short and long positions, affecting 43,050 traders. Bitcoin‑specific liquidations totaled $21.84 million, with $19.53 million coming from short positions. Futures open interest remained steady at $54.83 billion.

Technical outlook

Bitcoin continues to trade above its 20‑day, 50‑day, and 200‑day moving averages. The daily RSI sits near 73 (neutral) and the Stochastic is around 83. MACD remains positive, indicating ongoing bullish momentum.

• Immediate resistance: $79,000–$81,000
• Near‑term support: $77,500, with deeper support near $68,000–$69,000

Upcoming market catalysts

September’s calendar includes several potential drivers of volatility:

• Geopolitical developments in the Middle East, particularly the Strait of Hormuz
• The Federal Reserve’s September policy meeting
• Possible Senate action on the CLARITY Act, which could affect crypto‑related regulations

Traders are advised to monitor liquidity, volume trends, and ETF inflows alongside macroeconomic and policy headlines.