Other crypto tokens have witnessed a positive trend at the beginning of the week, while the current crypto price action saw a static Bitcoin.
The week started with a mixed bag for all crypto tokens, with Bitcoin losing a little value. On the upside, the crypto market’s capitalization held firm, with a few crypto tokens showing bullish trends. The present crypto price action saw Bitcoin trading within a tight range, but it was stable with its value. Crypto traders may be cautious with the next moves as macroeconomic pressures loom over the economy.
Bitcoin has gone below its 20-day moving average in the last 24 hours. If bulls keep supporting Bitcoin at $26000, it could jump up toward its earlier trading range above $26500. Bears have failed to pull back Bitcoin below $26000 in the last few days, which could indicate lower selling activity.
ETH, XRP, and BNB were all trading a little lower than earlier levels, but Bitcoin’s mini-dip did not affect them broadly. Apart from the US and other regions, the economy of the Euro Zone is also vulnerable to a slowdown in the global economy. As far as central bankers keep increasing interest rates, markets worldwide would be affected by low inflows.
BTC/USD 1D price chart
Bitcoin is currently trading at around $26100 on September 25, 2023, with BTC/USD trading lower by 1.7% in the last 24 hours. BTC/USD is trading lower than its 20-day EMA (26,327.38) as BTC’s 24-hour volume was at around $10 billion. Bitcoin has seen around 57.65% returns on a year-to-date basis.