While BTC was at the door of 25 thousand dollars, activity started again in the crypto market, how is the BTC price level and market conditions today?
After the positive news about crypto from China, the spring mood has come to the crypto money markets. BTC continues its pricing with the rise it has experienced in recent days. With the positive progress of the crypto markets, investors have increased their trades. The volumes of crypto transactions and exchanges are increasing. Looking at the technical analysis on the BTC side, it can be said that it is in a critical place.
Bitcoin (BTC) Chart Analysis
Analyzing the 2-hours chart for BTC technical analysis, it seems that the $25,200 level has been tested twice and faced another hard sell. If BTC’s b dollar level, which has functioned voluminously for support/resistance in the previous processes, is exceeded, an increase may occur up to $26,600. In BTC price, as long as the $ 25,200 level is not exceeded, a pullback can be observed to the levels of 23,940–23,480–22,360 dollars, which are the sequential support levels.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, with the spring mood it created in cryptocurrencies, is on the doorstep of $ 25,000. If the BTC price goes up, the price movements on the basis of altcoins have been calm as the dominance level rises. Seeing the persistence of BTC above $24,000, investors slowly started to turn to altcoins. BTC dominance has received a reaction from the 43.99 percent support level. If BTC, which currently has approximately 44.36 percent dominance, starts to move to 44.30 percent dominance, which is the next resistance point, a price decrease can be observed on the basis of altcoins. For altcoins, rallies could begin with the BTC dominance level loosening to 43.99 percent.
Market Value Analysis for Bitcoin
With the rise in crypto markets on the positive news from China, BTC had tested $487 billion as the recent peak of its market value. The $487 billion market cap, which served as a strong support during the downturn of the crypto market, is currently working as a barrier level for BTC. With BTC price crossing the $25,200 level, recent tops in market cap could be tested. On the other hand, if there is a possible BTC market value decrease, pullbacks to the level of $ 467 billion can be observed. If the BTC market cap does not find sufficient demand from the $467 billion level, it may continue to decline to the $452 billion market cap.
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