Bitcoin price is swinging at $23k presently, a thorough look at the price guage indices shows that with the slow return of investors interest, Bitcoin might be heading for a price pump.
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The global cryptocurrency market cap was trading higher at the $1.08 trillion mark, rising marginally higher in the last 24 hours. However, the total trading volume dropped more than 4 per cent, close to $63.31 billion at the time of this report.from Diutolytics and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support at $22,000, while the resistance is at $23,000. We may see BTC retest the US$23,000 level soon.
Data from Diutolytics and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support at $22,000, while the resistance is at $23,000. We may see BTC retest the US$23,000 level soon.
The day’s Wall Street open provided only a brief change in the mood, with the pair spiking above $23,000 before continuing previous behavior.
The atmosphere was unchanged by news that investment giant BlackRock had partnered with major exchange Coinbase to provide crypto trading to clients.
Instead, the familiar status quo involving the 200-week MA just above $22,800 entered another chapter, with bulls and bears still tussling for control. On-chain analytics resource Material Indicators noted that one class of whales active on the largest global exchange, Binance, was in a more risk-off mood on the day.
“The purple class of whales have historically had the most influence over Bitcoin price action,” it wrote on Twitter alongside a chart of data from the Binance order book.
“Interesting to see them dumping into other classes pumping.”