Bitcoin Breaks Major Price Level For First Time Since FTX Crash – More Gains For Bitcoin To Come?

After several challenging months, the cryptocurrency market is recording slow gains again, driven by its largest asset by market cap – Bitcoin (BTC), which recently crossed a major threshold for the first time since the collapse of cryptocurrency exchange FTX.

In fact, the latest charts showed that Bitcoin saw a confirmed break above its 50-day moving average (MA) for the first time since the collapse of one of the world’s largest crypto exchanges, Insight Investing Platform. Professions game marked on his Twitter profile on January 10th.

Bitcoin price movements. Source: Professions game

According to the analysis platform, after breaking above $16,857, the next major resistance level that the first cryptocurrency needs to break for an upward continuation has currently formed in the area around $17,600, with the next resistance at $19,031.

Bitcoin price analysis

Meanwhile, the major digital asset is trading at $17,304.12 at press time, up 0.19% over the past 24 hours, in addition to 3.73% over the previous seven days, while its monthly gains are on the chart at 0.85%.

Bitcoin price chart 7 days. Source: quinphone

At the same time, Bitcoin has a market capitalization of $333.24 billion, while its 24-hour trading volume is $16.09 billion (931,583 BTC), which puts it in second place with this indicator, with Tether (USDT) taking first place with trading volume. daily of $26.07 billion, according to CoinMarketCap Data retrieved by Coinphony on January 10.

It should also be noted that Amazon (NASDAQ:AMZN) early investor Bill Miller3 has consistently expressed enthusiasm for the “outstanding” performance of bitcoin, recently hailing it as “dramatically different” from all other crypto entities and praising its trading consistency when traditional ones have struggled. markets on it.

Warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

Post-Bitcoin Breaks Major Price Level For First Time Since FTX Crash – More Gains For Bitcoin Ahead? It first appeared on Coinphony.

Leave a Reply

Your email address will not be published. Required fields are marked *