Investors are pondering if Bitcoin and Ethereum can break out and reach new highs after being trapped in narrow ranges for some time. Despite recent volatility, a number of encouraging signs suggest that BTC and ETH are poised for a significant rise.
Let’s take a look at some of the main cryptocurrency market fundamentals that can influence overall price movement.
BTC Price Prediction
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 24,660.95 |
Bitcoin is currently worth $24,756 and has a 24-hour trading volume of $18.7 billion. Bitcoin has been paid less than 0.50% more in the last day. According to CoinMarketCap, Bitcoin, the first-placed cryptocurrency, has a live market valuation of $477 billionthan 0.50% more in the last day. According to CoinMarketCap, Bitcoin, the first-placed cryptocurrency, has a live market valuation of $477 billion. The total quantity is 21,000,000 BTC coins, with a circulating supply of 19,295,475 BTC coins.
On Sunday, the BTC/USD pair traded sideways in a modest range between $24,400 and $25,250. A bullish breakout of the $25,250 barrier might expose the Bitcoin price to $26,000 or $26,450.
Today’s Bitcoin Price
Bitcoin’s immediate support level is $24,300, and a break below this level could send the price of BTC as low as $23,750 or $23,300. If the $23,300 barrier is breached again, Bitcoin will go even lower, to $22,850.
The RSI and MACD indicators both reveal irrationality among investors, and the overall trading bias is neutral. The 4-hour candlestick closing patterns of the Doji and spinning top candles also suggest investor uncertainty. Keep an eye on the $24,300 level for any purchase opportunities.