Bitcoin Price Prediction for Today July 31: BTC Price Is Range Bound as It Holds Above $22.5K



Bitcoin Fluctuates Between $22.5K and $24.7K as It Holds Above $22.5K – July 31, 2022

Following the recent decline, BTC/USD has reached bearish exhaustion as it holds above $22.5K. Nonetheless, because of the presence of small body indecisive candlesticks, Bitcoin is likely to resume a range-bound move between $22,500 and $24,735 price levels.

Bitcoin Price Statistics Data:
•Bitcoin price now – $22,887.38
•Bitcoin market cap –$437,399,205,992
•Bitcoin circulating supply – 19,110,837.00 BTC
•Bitcoin total supply – $480,634,901,670
•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

Bitcoin is making an upward correction as it reaches its previous highs. On the upside, if the bulls break the resistance at $23,160, the BTC price will rise to revisit the $24,000 overhead resistance. Perhaps, if the overhead resistance is breached, Bitcoin will rally to $28,000 high. On the other hand, the selling pressure will resume if bears break below the $22,500 support. Bitcoin will decline to the 20,000 psychological price level.

$200M Botget BTC-USDT Protection Fund Amid a Prolonged Bear Market

Crypto derivatives exchange Bitget has launched a $200 million fund to safeguard users’ assets. Bitget joins the growing list of crypto companies, like Binance, that have taken an investor-centric approach to gain investors’ trust via protection funds.Bitget is a combination of a stablecoin and Bitcoin in the protection fund to oppose massive unforeseen volatility in crypto markets.

The Bitget Protection Fund consists of 6,000 Bitcoin (BTC) and 80 million Tether (USDT), valued at $200 million. Bitget crypto exchange promised to secure the value of the fund for the next three years. According to, Gracy Chen, managing director of Bitget, added: “The protection fund will help us mitigate investors’ concerns and attract potential users. As we continue to endure the crypto winter, it is crucial that our users can rest assured that their funds are kept safe.”

BTC/USD – 4 Hour Chart

Meanwhile, the BTC price has continued to fluctuate between $22,500 and $24,735 as it holds above $22.5K.The largest crypto will trend when the range-bound levels are breached. Bitcoin is holding above the 21-day line SMA for a possible upward move.

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