Bitcoin SV (BSV) has surged by 63% over the past week, reaching its highest price in 100 days. This rally follows a breakout above the $40 resistance level, which had held since July. At the time of writing, BSV trades at **$53.84**, reflecting a 27% 24-hour gain.
Key Drivers Behind BSV’s Rally
1. Breaking the 100-Day High
BSV’s突破 the $40阻力位 signals renewed market confidence. The 100-day high suggests sustained bullish momentum, potentially driven by:
- Increased trading volume.
- Positive sentiment around scalability solutions (larger block sizes).
2. Binance’s BSV Relaunch
Binance reintroduced BSV trading via a USD-M BSV Perpetual Contract (50x leverage) on Friday, triggering a 30% price spike. This led to:
- Over $500,000 in short liquidations.
- Enhanced liquidity and trader interest.
Note: Binance had delisted BSV in 2019 due to disputes involving Craig Wright’s Satoshi Nakamoto claims.
3. Misleading SEC News Impact
A false article claiming SEC approval for the iShares Bitcoin Trust briefly pushed Bitcoin to $30,000, indirectly boosting BSV. The correction caused volatility but highlighted market sensitivity to regulatory news.
Technical Analysis: What’s Next for BSV?
- Current Support: $40 (previous resistance).
- Next Target: Yearly high near $57.
Key Indicators:
- Broke 200-day moving average (first time since 2021).
- Upward trend from August lows ($26).
FAQs
Q: Is BSV’s rally sustainable?
A: While technicals are bullish, monitor Binance’s trading volume and broader Bitcoin ETF sentiment.
Q: Why did Binance relist BSV?
A: Likely due to resolving past conflicts and recognizing renewed investor demand.
Q: Should I invest in BSV now?
A: Cryptocurrencies are volatile. Conduct personal research and assess risk tolerance.
👉 Learn more about trading BSV
(Investing carries risks. This content is not financial advice.)
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