After an initial dip that took BTC towards $25000, the crypto market charts went through a V-shaped rebound with crypto tokens bouncing back.
Trends in crypto took a sudden turn towards volatility in the last 24 hours. The spike in sell-offs led to BTC declining towards $25000. Although it could have dipped further, the crypto market charts saw a broad recovery. The mini-rally has brought Bitcoin back to its earlier levels.
Panic signals were arising in the crypto market after BTC’s downward trend. At the level around $25000, bulls might have sensed a buying opportunity. Bitcoin did not decline much below that mark and was supported towards crossing the $25500 mark again.
The current trends in crypto have hinted towards static movements for some time. But if the volatility in the market continues, there is uncertainty regarding BTC’s next round of movements. Crossing the $26000 mark in the short term could be a positive trigger, though.
Other tokens in the market also saw their trading range influenced by BTC. ETH is trading just below $1600, while those like XRP, Solana, Polkadot, Cardano, and BNB also saw minimal losses. Bitcoin’s market cap has bounced back to trading at around $506 billion.
BTC/USD 1D price chart
Bitcoin is currently trading at around $25800 on September 12, 2023, with BTC/USD trading higher by 1.8% in the last 24 hours. BTC/USD is trading lower than its 20-day EMA (26,300.90) as BTC’s 24-hour volume increased to around $17 billion. Bitcoin has seen around 55.98% returns on a year-to-date basis.