July 23, 2024

Taylor Daily Press

Complete News World

Bitcoin price rose 7.8%, but the ban remains at ,000

Bitcoin price rose 7.8%, but the ban remains at $25,000

The battle for $25,000 is still in full swing. The Bitcoin price Tried to hack this for the past few days but bulls great difficulty. How does BTC work now? You can read it in this market update.

Bitcoin price is up 7.8% this week

Despite the fact that the price of BTC faced significant resistance at $25,000, the asset of all cryptocurrencies is currently 7.8% compared to last week. Looking back at the past 24 hours, this increase is less dramatic, 1%. Not surprising given the resistance where Bitcoin Currently trading nearby.

Bitcoin price on Coinbase 4-hour chart – Source: Coinbase

With the price still below this resistance, the value of the cryptocurrency at the time of writing is $24657 at Queen Piece. On the Dutch cryptocurrency exchange bitvavo The price of bitcoin in euros is currently 24.073 euros. A break of the $25,000 level is necessary to continue the uptrend that has been formed in recent days.

Bitcoin miners cause selling pressure

as in Bitcoin update from yesterday morning He read that many bitcoin miners sold a portion of their bitcoins. So it looks like they are making profits after the recent rally. Miners generally have a hard time due to lower prices, which have made their companies less profitable.

sell by Miners It can create additional pressure on sales in the market. In fact, the chart below shows that there is an increase in the amount of BTC flowing from the two miners.

Small Bitcoin Addresses Growing for Record

What can also be read yesterday is that the number of bitcoin wallets is increasing by at least 1 BTC. The same can be seen on smaller addresses of at least 0.01 BTC (about 250 euros). Is this a sign that small investors are entering the market again? The number of wallets holding this relatively small amount of bitcoin has reached a High All Time (ATH) from 10,638,730.

Bitcoin on the weekly chart is bullish

Although $25,000 is still holding as a resistance area, Bitcoin Analyst Dave the Wave rising In the case of things on the weekly chart. He states that “there is more than enough upward pressure forming at this resistance level,” adding:

“The weekly MACD is about to cross from the oversold position below the zero line.”

Crypto Insiders Premium for Bitcoin Analytics

Would you like to receive more in-depth Bitcoin analytics? Then we would like to refer you to our site Discord community for members. Ask questions to analysts, talk to our fanatic community, and get daily technical and fundamental analysis of Bitcoin, as well as other cryptocurrencies. During Discord Premium We can share knowledge with each other 24/7 and try to stay ahead of the market with our members.

See also  Bitcoin is worth $35,000 again: already up more than 100 percent this year | News

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and advice provided on this site is based on our analysts’ own insights and experiences and is for educational purposes only.