Rekt Capital, a trader and analyst, says that support is “solidifying” at current levels, indicating that there is still chance for a more convincing trend reversal. Bitcoin’s support has been solidified, with a long negative wick towards the bottom of the black wedging structure and a powerful rebound, he claimed.
BTC Price Movement
After BTC/USD reaches multi-day highs with no significant retracement, encouraging signs point investors away from expecting the worst. BTC achieved multi-day highs of $58,300 overnight on November 25 as investors bet on a lower possibility of a dramatic price drop.
Bitcoin’s price is $58,076.11 at the time of writing, with the change of 2.64%. The coin’s trading volume is $34,185,292,068 in the last 24 hours, with a market cap change of $1,069,446,719,146. It has a total supply of 18,882,837, a maximum supply of 21,000,000, and a circulating supply of 18,882,837.00 BTC.
On the other hand, Binance Coin (BNB) became the single standout among the top ten cryptocurrencies by market capitalization, rising 8% week over week. Currently, the price of the BNB is $639.34 along with the market cap of $106,355,032,518. The trading volume of the coin in the 24 hours is $106,355,032,518. Other tokens were flat or experienced slight losses, with Solana (SOL) leading the way with a nearly 7% drop to over $200 on the day.
According to expert Pentoshi, the most hilarious end to a crypto bull market would be double-digit inflation and people not understanding why that might be bearish for risk on assets.
This week, exchanges provided mixed indications about selling pressure, with strong inflows and outflows indicating a very active market. The exchange whale ratio, which quantifies the size of the top 10 deposits to exchanges as a percentage of all deposits, is alarming.
4JNET Defi and Metaverse Project are the most sought after. Now officially launched, increasing rate is 388% within couple of hours
President Nayib Bukele, Suggests US Fed to Stop Printing Money
One Moment While We Securely Connect You To Kraken
As BTC Price Steady Above $56K, ETH and Shiba Inu Surge Significantly
XRP Price Analysis, as the Token Faces Resistance at $1
Recent Press Release
Crypto Casinos vs. XRP Margin Trading: Where Is It Easier to Increase the Odds?
Many XRP investors have recently turned to margin trading. Understandably, people want the additional thrill while the market is stagnated....
Bitcoin As a Prototype of Central Banks
Bitcoin is a computerized currency that “utilizes decentralized technology to work with no centralized system or financial firms,” according to...
Hitches that cryptocurrency can pose to the financial sector
New upcoming companies are increasingly engaging in accessing the bitcoin market. After focusing for generations on bitcoin’s capabilities, prices, operational...
Bitcoin Address- A brief overview
Anyone who wants to buy or sell anything using Bitcoin must send money from a specified location, akin to how...
Why should you prefer Blockchain Technology?
From one end of the world toward the other, blockchain technology is without question the most fiercely contested issue. Since...