The crypto market suffered a minor dip in the last 24 hours due to macroeconomic and regulatory issues, but BTC quickly climbed back again strongly.
The crypto market witnessed a slight decline as sell-offs resumed after a short gap. BTC itself saw itself dipping below the $30000 mark. It was for a short while, though, as it recovered at a fast pace. Regulatory issues remain in focus for the crypto industry with recent developments. Macroeconomic indicators have also presented a mixed bag recently.
Despite all hurdles, Bitcoin has provided the much needed support to the crypto market. Tokens like ETH have also traded consistently above $1800. Other tokens like BNB, Solana, and Dogecoin saw a little loss in the last 24 hours. But most of them have maintained a positive seven-day average, with XRP at the highest.
Crypto investment funds have also seen increasing inflows recently, dominated by those in Bitcoin. With the latest correction in the market, analysts believe bulls will assume an important role hereafter. A few experts also indicated a further dip in the market could be likely before an upward trend occurs.
The crypto market’s capitalization dipped by almost a percent to $1.2 trillion. But Bitcoin’s market cap has continued to trade above $580 billion.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30000 on July 18, 2023, with BTC/USD down by around 0.4% in the previous 24 hours. BTC/USD is trading below its 20-day EMA (30,462.93) as BTC’s 24-hour volume increased to around $14 billion. Bitcoin has seen around 81.30% returns on a year-to-date basis.