HODLers Rejoice As Bitcoin Surges Above $9350 for the First Time Since July 9

According to data by CryptoCompare, at 08:40 BST (or 7:40 UTC) on Tuesday (July 21), Bitcoin surged above the $9,350 level for the first time in 12 days, as you can see from the two-week BTC-USD price chart shown below:

2 Week BTC-USD Chart on 21 July 2020.png

Since then, the Bitcoin price has come down slightly; at the time of writing, Bitcoin is trading around $9,340, up almost 2% in the past 24-hour period:

Now a 2% "surge" might not sound nothing to write home about, but it becomes easier to understand why some Bitcoin HODLers are celebrating right now when you consider that for the past 12 days Bitcoin has mostly been trading in the range $9100–$9300 and many are hoping that this small break to the upside could be a sign of things to come (such as a rally that moves the price past $10K, a level not seen for over seven weeks).

Some fans of Ethereum found the jubilation over BTC's 2% price increase amusing:

$BTC $eth

pumping 1%. pumping 2% pic.twitter.com/8DluuzidH3

— CryptoBeggar (@cryptobeggar_) July 21, 2020

Whole feed is talking about the 1.5% $BTC pump.

HELLLLOOOOOO #Ethereum just pumped 2.1% can I get some NOISE from our altcoin boys???

— The Crypto Dog📈 (@TheCryptoDog) July 21, 2020