With the decline experienced yesterday, Bitcoin (BTC) saw the levels of 23 thousand 570 dollars, after the fall, BTC started to rise again.
In the crypto money market, which has been rising rapidly in recent days, BTC continues to encounter large sales at the level of $ 25,250. Especially yesterday, BTC faced a major selling wave after it failed to break the strong resistance level of $25,250. BTC, which has experienced a price decrease to approximately $ 23,570, is again on the attack for the rise.
Bitcoin (BTC) Chart Analysis
Looking at the graphic analysis in the 30-minute period for BTC, it can be said that it returned from a critical support level and started to rise again. The $24,070 level stands out as the close support level for BTC. $23,860, which was a strong resistance level in the previous period, is important for BTC for now and acts as a necessary support for the continuation of the rise. If BTC does not find enough buyers at $ 23,860, the decline may deepen to $ 23,480. For BTC, as long as it remains above the $ 24,510 level, $ 25,250 can be observed again.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
For the current situation, the 44.30 percent level of BTC dominance is working as resistance. If this level is exceeded, it can be observed that the BTC dominance level reaches 44.50 percent, in this case, there may be decreases on the basis of altcoins. If the BTC dominance level drops to 44.05 percent, it can pave the way for the rise for altcoins.
Market Value Analysis for Bitcoin
With the hard sales of BTC at $ 25,250, the BTC market cap decreased to approximately $ 456 billion. With BTC jumping over the $24,000 level again, giving investors confidence, the BTC market value has currently reached a value of 470 billion dollars. For the continuation of the rises in the crypto market, it can be observed that the market cap of $ 481 billion is exceeded. In case of declines, a market value of 452 billion dollars can be expected from the abandonment.
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