The upward trend in BTC was evident with its strong movements in the last 24 hours, even as the overall crypto trends showed positive signs.
Bitcoin registered stable movements in the last 24 hours, smoothly trading above $30000. In a few instances, it got close to reaching the mark and declining below it. Fortunately, bulls came to BTC’s support and ensured it stayed above the level, on course for a rally.
While Bitcoin saw minor gains, ETH was also trading above $1850. Other tokens like Litecoin, Tron, and BNB were in the green, while some like Cardano, XRP, and Dogecoin saw declining rates.
At Bitcoin’s current level, analysts believe a rally toward $35000 is possible after the $32400 resistance. The global crypto market cap also rose by 0.27%, touching $1.18 trillion.
Bitcoin’s dominance with its current trading price is at around 49.97%, which could increase slightly in the near future. Experts have claimed BTC is now in a consolidation mode after a big upward trend near the $25000 mark. All stakeholders reaffirmed the significance of the latest rally.
A few cautious traders believe a sell-off may ensue soon to book profits, but most others are positive about a rally forming in the short term.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30300 on June 27, 2023, with BTC/USD up by around 0.2% in the previous 24 hours. BTC/USD is trading above its 20-day EMA (27,417.34) as BTC’s 24-hour volume increased above $15 billion. Bitcoin has seen around 83.39% returns on a year-to-date basis.