Bitcoin rose 1.5% on Sunday, climbing to an intraday high of $78,960 as market participants challenged the $79,000 resistance zone. The price movement follows a recent pullback from the $81,000 range.
At 10:10 a.m. Eastern time, BTC traded at $78,650 per coin. Over the past seven days, bitcoin has gained 1.8%, while the year-to-date advance from July 30 stands at 23.5% against the U.S. dollar. Daily trading volume across major venues reached between $13.1 billion and $13.9 billion.
Liquidations and Open Interest
According to Coinglass data, $75.71 million in crypto liquidations occurred over the past day, affecting 43,050 traders. Bitcoin liquidations accounted for $21.84 million of the total, with $19.53 million consisting of short positions. Bitcoin's futures open interest stood at $54.83 billion on Sunday.
Technical Position
Technical indicators show bitcoin's uptrend remains intact. The price sits above its 20-day, 50-day, and 200-day moving averages. The daily relative strength index (RSI) is at approximately 73, while the Stochastic oscillator is at 83. The moving average convergence/divergence (MACD) remains positive on the daily timeframe.
Immediate resistance sits in the $79,000 range, with the recent $81,000 rejection zone marking a key technical level. A breakout above this area could reinitiate last week's rally. Near-term support is at $77,500, with deeper support levels at $73,000–$74,650 and $68,000–$69,000 near the 200-day moving averages.
September Market Catalysts
Traders are monitoring several potential market drivers for September, including macroeconomic data releases, Middle East developments, the scheduled Federal Reserve meeting, and possible Senate action on the CLARITY Act. Market volatility could increase around any of these events.
