Bitcoin saw an upward trajectory with improving sentiments even as the crypto market activity of the last 24 hours was balanced without much volatility.
The crypto market saw improving trends in the last couple of days. It was led mainly by Bitcoin, which moved up with better support. The present crypto market activity is broadly stable, with hints of little volatility. If BTC sustains its current run, it could soon cross over its resistance at $26500.
Equity markets did not see similar outcomes, though. The S&P 500 went through losses, while macroeconomic risks grew in the US. However, the effects did not spill over to crypto, as most tokens grew steadily with their trading levels.
Liquidity is still low in the crypto market, and investors might look forward to ETFs and lower interest rates to improve the scenario. Both bulls and bears are currently active at the level of Bitcoin’s 20-day moving average. The level may remain crucial over the weekend if Bitcoin trades within the same range.
Since bulls have moved up Bitcoin above that level, they could now target its 50-day moving average. If investors could help BTC consolidate above the level, the token could see further gains to $27000.
BTC/USD 1D price chart
Bitcoin is currently trading at around $26400 on September 28, 2023, with BTC/USD trading higher by 0.6% in the last 24 hours. BTC/USD is trading higher than its 20-day EMA (26,231.00), as BTC’s 24-hour volume was at around $12 billion. Bitcoin has seen around 59.32% returns on a year-to-date basis.