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Bitcoin hits $35K after Biden reveals infrastructure deal, Paraguay proposes BTC bill

Published 06/24/2021, 05:05 PM
Updated 06/25/2021, 10:00 AM
Bitcoin hits $35K after Biden reveals infrastructure deal, Paraguay proposes BTC bill
BTC/USD
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Bitcoin (BTC) price received a boost as news that lawmakers in Paraguay plan to present a bill to make BTC legal tender spread across Twitter. Shortly after the unconfirmed news surfaced on Twitter, Bitcoin price rallied to $35,289 before slightly pulling back below the key short-term resistance level.

While the cryptocurrency Fear and Greed Index still indicates a sentiment of Extreme Fear, it’s worth noting that the measure has risen from 14 on June 23 to 22 on June 24 as traders begin to view the drop below $29,000 and Bitcoin's rising open interest as signs that the current corrective phase may have ended.

Cryptocurrency fear and greed index. Source: Alternative
Daily cryptocurrency market performance. Source: Coin360
VORTECS™ Score (green) vs. CELO price. Source: Cointelegraph Markets Pro

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