Bitcoin moved ahead of $43,000 in the last 24 hours as the crypto price graphs rose, indicating signs of a year-end rally.
After a short phase of range-bound action, the crypto market saw its movements picking up momentum. Bitcoin raced past $43,000, sending signals for fresh consolidation above the mark before the year ends. Meanwhile, other altcoins also improved their price strengths, sending higher crypto price graphs.
With the latest indicators, a new Bitcoin price rally could be on the cards soon. Meanwhile, the crypto indicators do not hint at any sign of overbuying. Traders and investors see further room to accumulate crypto and create a price jump. A $10 billion BTC option expiring on December 29 may also set a price war between crypto bulls and bears.
Bitcoin had missed going below its 20-day moving average by a small margin. In the days ahead, holding its trading range above its 20-day moving average could be crucial for BTC. Meanwhile, institutional investors continue to buy BTC. MicroStrategy, a long-time BTC proponent, has again bought large amounts of the crypto.
It said in a regulatory filing, “during the period between November 30, 2023 and December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 Bitcoins for approximately $615.7 million in cash, at an average price of approximately $42,110 per Bitcoin, inclusive of fees and expenses.”
BTC/USD 1D price chart
Bitcoin is currently trading at around $43,100 on December 28, 2023, with BTC/USD trading higher by a margin of 1.6% in the last 24 hours. Bitcoin’s market cap was trading at around $842 billion.
BTC/USD is trading higher than its 20-day EMA (42,766.99), as BTC’s 24-hour volume was at around $25 billion. The crypto market cap increased by around 2.43%, trading above $1.69 trillion. BTC’s year-to-date returns are above 159.85%.
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