Bitcoin hits 1-year high, traders anticipate further gains.
Bitcoin (BTC) held support at $30,500 as US markets opened, with traders hoping for a repeat of the previous week's buying pressure during US trading hours. On-chain analytics firm Glassnode noted a revival of US-led demand, potentially due to the gold rush of institutional-grade ETF applications filed in the US. Trading suite DecenTrader flagged a key resistance level at just above $32,800, while shorter timeframes showed a lack of interest in shorting BTC at current levels, increasing hopes of a resumption of the uptrend. Analysts believe any potential retracements will be shallow in nature.