BTC trends have broadly stayed stable, due to which crypto market token prices did not witness much volatility and held their respective support levels in the last 24 hours.
Bitcoin has been relatively stable since June 26, indicating a status quo in traders’ activities. It has traded in a range between $56,000 and $73,000 for several months in 2024. As a result, the broader BTC trends have stayed predictive. Experts have also indicated this phase as a prolonged period of consolidation for BTC. Crypto market token prices have also followed BTC’s path and traded in similar patterns.
Although the next movements of the crypto market cannot be predicted, a dip is highly unlikely. A decline will also possibly last only till BTC hits $57,000. Hence, a turnaround in investor sentiments could only lead to a pickup in token prices. Among other tokens, ETH is inching closer to $3,500 with a market cap of over $409 billion.
Tokens like DOT and AVAX also went through minimal gains in the last 24 hours. Over the last two weeks, bears have repeatedly tried to pull BTC below its support level after market sell-offs. However, those levels have acted as opportunities for buyers to pick up more tokens. It is evident from BTC’s turnaround multiple times in recent months after steep dips.
In the next few days, BTC bulls have a task at hand to fight a new resistance zone around $62,000.
BTC/USD 1D price chart
Bitcoin is currently trading at around $61,150 on June 27, 2024, with BTC/USD trading lower by a margin of 0.4% in the last 24 hours. Bitcoin’s market cap was trading at around $1.2 trillion in the last 24 hours.
BTC/USD is trading lower than its 20-day EMA (66,197.18), as BTC’s 24-hour volume was at around $21.5 billion. The global crypto market cap decreased by around 0.92%, trading above $2.25 trillion. BTC’s year-to-date returns are at 45.74%.
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