BTC has continued to rise in price in recent days and has attracted attention, how is the BTC price level and market conditions today?
Continuing its upward trend in recent weeks, BTC is holding above the $24,000 level in price. With the activity in the crypto money market, BTC had tried the $ 25,200 level in the past days. BTC, which has tested a strong resistance level of $ 25,200 twice, is currently retreating from this price. In the bullish scenario, serious movements can be seen on the crypto markets with the $ 25,200 level exceeding.
Bitcoin (BTC) Chart Analysis
The leader of the crypto markets, BTC, continues to rise and remains above the $24,000 level. BTC tested the $25,200 level twice in the past days, which acted as a timely strong support and strong resistance in terms of price. The $25,200 level, where intense sellers are active, stands as the biggest obstacle to the rise of BTC for now. In a possible bullish scenario, a persistence above the $25,000 level can be expected for BTC. In the pullbacks, the $ 23,940 level and the $ 23,330 level in BTC price can act as support.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, with the wind it has received in the last days, is on the doorstep of the $25,000 level. If the BTC price increased, the price movements on the basis of altcoins became stagnant with the increase in the dominance level. Seeing the permanence of BTC above $24,000, investors have slowly started to switch to altcoins. BTC dominance is testing its support by reaching the 43.98 percent level. With the downside break of this level, bigger rises can be seen in altcoins. In the case where BTC takes over, it is possible that the dominance will go to the level of 44.30 percent. In this case, there may be retracements in the price of altcoins.
Market Value Analysis for Bitcoin
With the rise in the cryptocurrency markets, BTC tested $487 billion as the recent peak of its market cap. The $487 billion market cap, which worked as a strong support during the downturn of the crypto market, is currently observed as an obstacle to the market cap rise. With BTC price breaching the $25,200 level, recent tops in market cap could be seen. If there is a possible BTC market value decrease, there may be pullbacks to the level of $ 467 billion. If the BTC market cap does not find enough buyers at the $467 billion level, the decline may continue up to the $452 billion market cap.
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