Traders saw a crypto price hike after a few days of downturn, with BTC leading the mini-rally in the crypto market, even as investors stayed cautious.
After a short phase of low crypto market volatility, traders witnessed an upward trend. Bitcoin held its support at $26000 despite increasing bearish activity at the level. The crypto price hike has renewed optimism in the market with hopes to end the month on a better note. Historically, the month of September has favored bears, but it may seem unlikely in 2023.
The US dollar has also strengthened, which could greatly impact macroeconomic predictions. If it aligns with the crypto market’s needs, Bitcoin could see more price jumps.
BTC has also seen better buying interest from institutional investors. Software firm MicroStrategy has acquired billions worth of Bitcoin, which is a good signal for other investors. Meanwhile, the bullish stance could also mean a buying moment may have emerged in the market.
Crypto market volatility has been relatively low, but it slightly increased in the last 24 hours. Tokens like ETH and MATIC also registered gains. ETH is inching closer to $1600 and may cross the mark this week.
BTC/USD 1D price chart
Bitcoin is currently trading at around $26300 on September 26, 2023, with BTC/USD trading higher by 0.7% in the last 24 hours. BTC/USD is trading higher than its 20-day EMA (26,273.55), as BTC’s 24-hour volume was at around $10 billion. Bitcoin has seen around 58.93% returns on a year-to-date basis.