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As of July 2024, Bitcoin's price is currently around $57,492, showing a decline of about 4.12% over the last 24 hours [oai_citation:1,Bitcoin (BTC) Price Prediction 2024, 2025–2030 | CoinCodex](https://coincodex.com/crypto/bitcoin/price-prediction/). The overall sentiment in the market is mixed. While some sources predict a potential bullish trend due to historical patterns and recent ETF inflows, others are more cautious.$BTC
The price of Bitcoin has ranged between $59,000 and $74,000 since April, with predictions that it could reach $67,747 by August [oai_citation:2,Bitcoin (BTC) Price Prediction 2024, 2025–2030 | CoinCodex](https://coincodex.com/crypto/bitcoin/price-prediction/) [oai_citation:3,CleanSpark Releases June 2024 Bitcoin Mining Update | Nasdaq](https://www.nasdaq.com/press-release/cleanspark-releases-june-2024-bitcoin-mining-update-2024-07-02). Despite the recent dip, the long-term outlook remains positive, with some analysts predicting Bitcoin could rebound to as high as $150,000 in 2024 [oai_citation:4,CleanSpark Releases June 2024 Bitcoin Mining Update | Nasdaq](https://www.nasdaq.com/press-release/cleanspark-releases-june-2024-bitcoin-mining-update-2024-07-02).
On the mining front, CleanSpark reported significant growth in its operations, doubling its hashrate since December 2023. In June 2024, the company mined 445 bitcoins, with an average price of approximately $67,514 per bitcoin [oai_citation:5,CleanSpark Releases June 2024 Bitcoin Mining Update | Nasdaq](https://www.nasdaq.com/press-release/cleanspark-releases-june-2024-bitcoin-mining-update-2024-07-02).
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cycles, including those by the Patoshi entity, early miners, and lost coins.$BTC
- 🔵 Coins in loss have an average unrealized loss of -$5.3k, with a cost basis of about $66.1k. These are mostly held by Short-Term Holders, as few top buyers from the 2021 cycle still hold.
These metrics highlight potential sell-pressure points as investors aim to secure gains or avoid further losses.

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Bitcoin's next significant resistance level is around $48,000. This level is crucial because it was a previous support before the market downturn and is now being tested as a resistance. If Bitcoin can break through this resistance, it might signal a continuation towards its all-time highs [oai_citation:1,Bitcoin Technicals: Why BTC price breaking $48K resistance is the key to new all-time highs](https://cointelegraph.com/news/bitcoin-technicals-why-btc-price-breaking-48k-resistance-is-the-key-to-new-all-time-highs) [oai_citation:2,Bitcoin Breaks Above An Important Resistance Level And Rips: What's Next? - Benzinga](https://www.benzinga.com/markets/cryptocurrency/22/02/25465270/bitcoin-breaks-above-an-important-resistance-level-and-rips-whats-next).
If Bitcoin manages to break and sustain above $48,000, the next major resistance is likely near $64,900. Breaking this level with two consecutive weekly closes could confirm a long-term bullish trend, potentially leading to a price target of around $80,600 [oai_citation:3,Bitcoin Price Outlook: 18% Upside to $80,600 on Technical Breakout - Markets Insider](https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-technical-breakout-suggests-80600-upside-price-target-2024-3).
On the downside, if Bitcoin fails to break the $48,000 resistance, it may find support around $37,500. This support level is critical to maintain the current bullish momentum and avoid a potential market reversal [oai_citation:4,Bitcoin Technicals: Why BTC price breaking $48K resistance is the key to new all-time highs](https://cointelegraph.com/news/bitcoin-technicals-why-btc-price-breaking-48k-resistance-is-the-key-to-new-all-time-highs).
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$BTC Bitcoin's current trading value is around $58,745, with expectations of it fluctuating between $60,826 and $62,420 today [oai_citation:1,Bitcoin Price Prediction For July 2024, 2025 -2050](https://www.cryptonewsz.com/forecast/bitcoin-price-prediction/). Recent analyses indicate that Bitcoin's price could range from $55,250 to $68,150 throughout July 2024, with an average of about $61,700 [oai_citation:2,Bitcoin Price Prediction For July 2024, 2025 -2050](https://www.cryptonewsz.com/forecast/bitcoin-price-prediction/) [oai_citation:3,Bitcoin Price Predictions 2024](https://www.coingecko.com/research/publications/bitcoin-price-prediction-2024).
Analysts predict a bullish trend towards the end of 2024, with potential highs reaching up to $71,938 in July and an average trading price of $66,795. If the market remains positive, Bitcoin might see substantial growth, driven by factors like increased institutional adoption and regulatory clarity [oai_citation:4,Bitcoin (BTC) Price Prediction July 2024, 2025, 2026, 2030, 2040 - 2050](https://coingape.com/price-predictions/bitcoin-btc-price-prediction/).
Keep in mind that cryptocurrency markets are highly volatile and predictions can vary widely. Some projections suggest Bitcoin could reach up to $87,000 by the end of 2024, reflecting the uncertainty and potential within the market [oai_citation:5,Bitcoin Price Predictions 2024](https://www.coingecko.com/research/publications/bitcoin-price-prediction-2024).