Crypto Currency News

Bitcoin Price Seeks Stability Following ATH and Subsequent Profit Taking

The major cryptocurrency is trading just above $65,000

Bitcoin (BTC) fell 5% in the last 24 hours and is trading above $ 65,000. The leading cryptocurrency market experienced a $ 700 million profit-taking in a few hours yesterday afternoon, but the price has defended its main supports. As of press time, the price of BTC is $ 65,389.

Yesterday morning, BTC broke its all-time high (ATH) by breaking above $ 69,000. However, in just 12 hours it corrected by almost $ 6,000 and registered a weekly minimum of USD 63,238. However, it quickly rebounded and rallied above $ 65K again.

While many specialists mark the current level as the barrier to defend, the strongest technical support points are below $ 60K, mainly at $ 57K and $ 5KK, so BTC is still far from a risk of abrupt decline.

See also  The mayor of Tampa Bay will collect her salary in Bitcoin

On the contrary, optimism continues to characterize investors and market analysts, who are already thinking about the new resistance levels: 74, 76 and 78 thousand dollars.

Despite today’s drop, BTC continues to grow 7% weekly, amounting to 15% and 40% on the monthly and quarterly charts, respectively.

The rest of the crypto market also had a red day. Ether (ETH), the leading altcoin, is down just over 2%, and as of press time, its price is $ 4,751.

Binance coin (BNB) and Solana (SOL) are down 4% and 2%, respectively, and their price is at USD 626 and USD 238. Polkadot (DOT) and Litecoin (LTC) corrected by 6% and fell to USD 47 and $ 266, while Cardano (ADA) and XRP tumbled by nearly 8% and are trading at $ 2.09 and $ 1.21 respectively.

See also  Famous anarchist bar already accepts payments in bitcoin

Lastly, the most famous meme cryptocurrencies on the market had mixed returns. Dogecoin (DOGE) is down 2% and is trading at $ 0.26, while Shiba Inu (SHIB) is up 10% to hit $ 0.00005638.

Back to top button