Bitcoin Surges to $30.2K August High as Longs Chase Price

Bitcoin (BTC) reached its highest price in August, hitting $30,210, after a surge in strength and a recovery from local lows. Traders and analysts are closely watching key levels, such as $29,700, to determine the next direction for BTC price. Bitcoin whales have been active in the market, with increased buying observed among various classes of whales. Derivatives markets are also being closely monitored, with shorts closing out and late longs potentially "chasing" the market. Overall, market sentiment remains bullish, but further price developments are awaited.