Bitcoin easily held support at $70,000 in the last 24 hours, possibly continuing the crypto bull season of 2024, which has shown no signs of stopping yet.
All crypto market indicators were green over the past 24 hours, leading to Bitcoin trading over $70,000. The crypto bull season could enter its next phase hereafter, with Bitcoin’s rigid support at $70,000. This possibility could be more prominent next week once BTC holds its trading range throughout the weekend. Meanwhile, price strength across multiple altcoins could also have gained in the last few days.
On the other hand, $71,000 has acted as stiff resistance for BTC since late March. Once BTC consolidates over it, bulls could gain momentum. The broader market, from an extremely ‘greedy’ outlook in the Bitcoin fear and greed index, has settled on a stable note. Hence, one could have observed how BTC did not dip below $68,000 during this week’s sell-offs.
Analysts are also predicting an ongoing event called ‘altseason,’ with several altcoins skyrocketing In value. Crypto analysis firm Rekt Capital said, “No matter what Bitcoin’s price has done over the past few weeks, Altcoin Market Cap has been the only constant consistently retesting the red $315bn level as support for weeks now.”
BTC/USD 1D price chart
Bitcoin is currently trading at around $70,900 on April 12, 2024, with BTC/USD trading higher by a margin of 0.11% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.39 trillion in the last 24 hours, at around the same levels.
BTC/USD is trading above its 20-day EMA (68,313.36), as BTC’s 24-hour volume was at around $29 billion. The global crypto market cap increased by around 0.1%, trading above $2.63 trillion. BTC’s year-to-date returns are at 68.53%
Join Millionero and start trading crypto using our multiple useful features!