Traders witnessed a resilient Bitcoin trading over $30000 at the beginning of the week, with the crypto holding on to the positive signals in the market.
The crypto market started the week on a high note, witnessing renewed optimism. While Bitcoin shed a little value from the end of last week, it was still much above the positive trigger of $30000. With crypto holding on to the latest bullish signals, analysts see positivity for a long rally this time.
The previous week was the best for BTC in the current year, reaching a one-year high above $31000. Since then, it has been consolidating above the $30000 trading range. It has stabilized in the position currently.
Bitcoin’s seven-day returns are above 14%, indicating a sharp rise from the earlier weeks. Though its support has formed at $29500, investors would closely look at how long BTC holds on to $30000. Various experts have called for bulls to utilize the present opportunity to push BTC toward $32000 in a short rally.
Other crypto tokens registered small losses in the last 24 hours. ETH fell below $1900, while Polygon, Litecoin, and Cardano also were in the red. Even then, the tokens were easily above the previous month’s levels. Bitcoin’s market capitalization has also pushed towards $586 billion.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30200 on June 26, 2023, with BTC/USD down by around 1.2% in the previous 24 hours. BTC/USD is trading above its 20-day EMA (27,288.11) as BTC’s 24-hour volume increased above $13 billion. Bitcoin has seen around 82.26% returns on a year-to-date basis.