Bitcoin has remained around $30000 without many erratic movements, leading to the crypto market slowing down.
The crypto market slowed down significantly in the last 24 hours as Bitcoin had dipped towards $29000. It has recovered gradually and is currently trading above $30000. Overall trends in the crypto market were mixed, as some altcoins went upward while others suffered losses. ETH, BNB and Bitcoin were relatively flat, while Shiba Inu, Dogecoin and Litecoin traded upwards.
ETH was trading exactly around $2100 in a tight range as it occupied almost $250 billion of market cap in the crypto market. The latest dip and the crypto market’s slow movement could have occurred due to the rising treasury yields and investors and traders playing safe for the time being. ETH has shown bullish signals after the Shapella upgrade, though.
A new stablecoin bill is also in the works in the United States, which could have led to sight apprehensions and the crypto market slowing down. A hearing scheduled on April 19 on the stablecoins is expected to give some clarity to the issue. Bitcoin’s support has formed at $29000 for now while its resistance is solid at $30200. The overall crypto market’s capitalization was stable at $1.3 trillion approximately.
BTC/USD YTD price chart
Bitcoin is currently trading at around $30000 on April 18,2023, with BTC/USD up by almost 1.8% in the previous 24 hours. As the crypto market slowed down, most cryptos are presently trading with mixed trajectories. BTC/USD is trading higher than its 20-day EMA (28,593.45). Bitcoin’s 24-hour volume is around $10 billion.