{"id":630695,"date":"2024-07-20T05:30:04","date_gmt":"2024-07-20T05:30:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=630695"},"modified":"2024-07-19T23:39:28","modified_gmt":"2024-07-19T23:39:28","slug":"bitcoin-price-skyrockets-to-66000-amid-global-it-outage","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-price-skyrockets-to-66000-amid-global-it-outage\/","title":{"rendered":"Bitcoin Price Skyrockets To $66,000 Amid Global IT Outage"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Bitcoin price has quickly recovered from its recent dip to a six-month low of $53,500 on July 5th, reclaiming the $66,000 level and setting its sights on retesting its <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/economist-predicts-90-chance-bitcoin-hits-new-high-by-march-2025\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">all-time high<\/span><\/a><span style=\"font-weight: 400\"> of $73,700 reached in March.\u00a0<\/span><span style=\"font-weight: 400\">This resurgence comes as major airlines, medical facilities, corporations, and police forces worldwide grapple with a massive information technology (IT) disruption affecting Microsoft&#8217;s cloud computing services.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin Price Unaffected By Global IT Outage<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Cybersecurity firm CrowdStrike shed light on the cause of the outages, <\/span><a href=\"https:\/\/www.nbcnews.com\/news\/us-news\/mass-cyber-outage-airports-businesses-broadcasters-crowdstrike-rcna162664\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">attributing <\/span><\/a><span style=\"font-weight: 400\">them to a &#8220;routine software update&#8221; that went wrong. To reassure the public, CrowdStrike emphasized that the incident was not a security breach or cyberattack.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The company then quickly issued a new software update that automatically repaired some affected computers. However, some systems required manual reboots and patching, resulting in significant <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-will-reach-8000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">delays<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/derivates-spot-ethereum-etfs\/\" target=\"_blank\" rel=\"noopener \">ETH Derivates Volume Have Flatlined Despite Spot Ethereum ETFs Approval, What\u2019s Going On?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Microsoft, on its part, announced the recovery of its 365 apps and services late Friday morning, though some individual customers may still experience residual impact.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, amid the chaos caused by the <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/matic-analysis\/matic-targets-0-5030-as-bearish-pressure-halts-recent-uptrend\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">IT outage<\/span><\/a><span style=\"font-weight: 400\">, cryptocurrency prices remained unaffected, capturing the attention of US Senator Cynthia Lummis.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Known for her pro-crypto and Bitcoin stance, Senator Lummis took to social media platform X (formerly Twitter) to highlight the resilience of the Bitcoin price amid widespread cyber outages, <\/span><a href=\"https:\/\/x.com\/SenLummis\/status\/03586264\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">stating<\/span><\/a><span style=\"font-weight: 400\">:\u00a0 &#8220;Do you know what form of currency hasn&#8217;t been affected by widespread cyber outages? Bitcoin. Vires in Numeris.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, speculation surrounding Bitcoin&#8217;s potential as a strategic reserve asset for the United States has been intensifying.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Anticipation has been further fueled by the upcoming appearance of former US President Donald Trump in Nashville on July 27, who some predict will announce the largest cryptocurrency on the market as a key to the US economy, potentially providing a massive boost to the Bitcoin price.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Sell Signal Emerges<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As the Bitcoin price continues its recovery, crypto analyst Ali Martinez has detected a significant development on the Bitcoin daily chart as the TD Sequential indicator has generated a sell signal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the analyst <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/17715792\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">noted <\/span><\/a><span style=\"font-weight: 400\">that the signal can be invalidated if Bitcoin manages to close above the crucial threshold of $67,500. The cryptocurrency&#8217;s current price stands at $66,666, reflecting a 5% increase within the past 24 hours and an impressive surge of over 16% in the past week alone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Sustaining a close above the level identified by Martinez becomes paramount to avoid a potential correction on its path towards the highly anticipated $70,000 milestone.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-bollinger-bands-squeezing-is-btc-ready-for-140000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Bollinger Bands Squeezing: Is BTC Ready For $140,000?<\/a><\/div>\n<p><span style=\"font-weight: 400\">While Bitcoin&#8217;s upward trajectory is strong, it may encounter resistance at various price levels before reaching its target noted by <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/massive-mt-gox-bitcoin-shift-unlikely-to-disrupt-prices-says-cryptoquant-ceo\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">bearish thresholds <\/span><\/a><span style=\"font-weight: 400\">at $67,600, $68,380, and $69,700, which could pose challenges to Bitcoin&#8217;s price rise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, Bitcoin can find support from its 200-day exponential moving average (EMA), currently positioned at $62,600, which represents a long-term trend indicator, often regarded as a robust support level.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/x9TfY5ha\/\" alt=\"Bitcoin price\" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">The daily chart shows BTC&#8217;s price trending upwards. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price has quickly recovered from its recent dip to a six-month low of $53,500 on July 5th, reclaiming the $66,000 level and setting its sights on retesting its all-time high of $73,700 reached in March.\u00a0This resurgence comes as major airlines, medical facilities, corporations, and police forces worldwide grapple with a massive information technology (IT) disruption affecting Microsoft&#8217;s cloud computing services. Bitcoin Price Unaffected By Global IT Outage Cybersecurity firm CrowdStrike shed light on the cause of the outages, attributing them to a &#8220;routine software update&#8221; that went wrong. To reassure the public, CrowdStrike emphasized that the incident was not a security breach or cyberattack.\u00a0 The company then quickly issued a new software update that automatically repaired some affected computers. However, some systems required manual reboots and patching, resulting in significant delays. Related Reading: ETH Derivates Volume Have Flatlined Despite Spot Ethereum ETFs Approval, What\u2019s Going On? Microsoft, on its part, announced the recovery of its 365 apps and services late Friday morning, though some individual customers may still experience residual impact. Interestingly, amid the chaos caused by the IT outage, cryptocurrency prices remained unaffected, capturing the attention of US Senator Cynthia Lummis.\u00a0 Known for her pro-crypto and Bitcoin stance, Senator Lummis took to social media platform X (formerly Twitter) to highlight the resilience of the Bitcoin price amid widespread cyber outages, stating:\u00a0 &#8220;Do you know what form of currency hasn&#8217;t been affected by widespread cyber outages? Bitcoin. Vires in Numeris.&#8221; Meanwhile, speculation surrounding Bitcoin&#8217;s potential as a strategic reserve asset for the United States has been intensifying.\u00a0 Anticipation has been further fueled by the upcoming appearance of former US President Donald Trump in Nashville on July 27, who some predict will announce the largest cryptocurrency on the market as a key to the US economy, potentially providing a massive boost to the Bitcoin price. Sell Signal Emerges As the Bitcoin price continues its recovery, crypto analyst Ali Martinez has detected a significant development on the Bitcoin daily chart as the TD Sequential indicator has generated a sell signal.\u00a0 However, the analyst noted that the signal can be invalidated if Bitcoin manages to close above the crucial threshold of $67,500. The cryptocurrency&#8217;s current price stands at $66,666, reflecting a 5% increase within the past 24 hours and an impressive surge of over 16% in the past week alone.\u00a0 Sustaining a close above the level identified by Martinez becomes paramount to avoid a potential correction on its path towards the highly anticipated $70,000 milestone. Related Reading: Bitcoin Bollinger Bands Squeezing: Is BTC Ready For $140,000? While Bitcoin&#8217;s upward trajectory is strong, it may encounter resistance at various price levels before reaching its target noted by bearish thresholds at $67,600, $68,380, and $69,700, which could pose challenges to Bitcoin&#8217;s price rise.\u00a0 Conversely, Bitcoin can find support from its 200-day exponential moving average (EMA), currently positioned at $62,600, which represents a long-term trend indicator, often regarded as a robust support level. Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":630696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,485,656,679,1119,1122,1144,8390,78790,6664,14690,1558],"class_list":["post-630695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-crypto-news","tag-cryptocurrency"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Skyrockets To $66,000 Amid Global IT Outage<\/title>\n<meta name=\"description\" content=\"The Bitcoin price has quickly recovered from its recent dip to a six-month low of $53,500 on July 5th, reclaiming the 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