Bitcoin price cools as Amazon says crypto rumors are ‘not true’

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Bitcoin cooled slightly after Amazon categorically denied that it plans to accept cryptocurrency payments by the end of this year.

In a statement, a spokesperson said:

Despite our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this might look like for customers buying from Amazon.

A report from City AM had claimed that support for BTC transactions was imminent and that the e-commerce giant planned to launch its own token next year.

Amazon’s denial suggests that it is trying to keep its future plans a secret as it begins the search for a digital currency and blockchain product.

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Market action

BTC had hit highs of $ 40,499.68 as crypto markets digested the news and such a rise has not been seen for several weeks. Chinese journalist Colin Wu tweeted:

Bitcoin rose 12% in one hour, leading the rise. Because the Chinese have just woken up. It is evident that the price of Bitcoin has started to rise after this Amazon rumor spread in the Chinese community.

After Amazon’s rejection, BTC began to return some of yesterday’s extraordinary gains, but it appears to have stabilized above $ 37,000, a level still significantly above what we’ve seen for most of it. of the month of July.

With Bitcoin managing to erase its 50-day moving average, all eyes are now on crucial resistance levels.

Yesterday, in a note to investors, Katie Stockton of Fairlead Strategies said BTC could see a $ 51,000 rise if it manages to break resistance of around $ 43,000.

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