With Bitcoin exceeding $ 25 thousand, sharp movements were seen in the crypto money market. How is the BTC price and market conditions today?
As of yesterday, there were active hours on the BTC side. BTC, which rose above the $25,000 level again months later, once again attracted the attention of the economy markets. BTC, which started to rise after the US inflation data and the FED interest rate decision, managed to rise above the $25,000 level after a long time.
Bitcoin (BTC) Chart Analysis
With the activity in the crypto market, BTC exceeded the level of $ 25,000 yesterday. BTC faced selling pressure at the $25,200 level, which has recently worked as a strong support and strong resistance. With the selling pressure from investors, the price has been pulled to the level of $ 23,640. A retest of the $25,200 level for BTC price could begin with a stay above the $23,940 level. In a possible bearish scenario, it can be seen that the price drops as low as $22,100.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
With the sharp rise it experienced yesterday, BTC has taken over the dominance of the crypto market. With the activity experienced by BTC, the price had seen the $ 25,200 levels. While the price was rising, BTC broke the resistances at the dominance level and drew the money flow on itself. BTC dominance may gradually increase when the 44.65 percent level that works as resistance in Dominance is exceeded. BTC dominance level may need to slacken to 43.60 percent levels to observe rises in altcoins basis.
Market Value Analysis for Bitcoin
As of yesterday, BTC tested the highest market value of $ 481 billion in recent times. BTC, which rose to the level of $ 25,000 after months, has withdrawn from $ 487.2 billion in market value. With a current market cap of $458 billion, BTC may need to gain $467.1 billion for the market cap to rise. In the possible bearish scenario, the $447.54 billion market cap may need to be maintained.
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