The latest crypto price signals represented an improvement in the current crypto trading indicators, as BTC traded higher than $41,000 after a recovery.
Phases of high volatility continued in the crypto market after the weekend. However, crypto price signals showed BTC’s trading levels bouncing back from below $41,000. Other tokens were also trading in static ranges or with slight dips. On the other hand, with BTC’s comeback, crypto trading indicators were in the green again.
Bulls might aim to take Bitcoin ahead of its 20-day moving average during the week. It has been trading below the mark for a while. On January 21, Bitcoin was inching closer to $42,000 with renewed support, but sudden sell-offs led to a sharp decline in its prices. If traders can sustain a price rise this week, BTC can attempt to close the week above $42,000.
Although a significant downside was not visible in the crypto market, investors did not see new highs either. Holding its $40,000 support was a silver lining for BTC in the crypto market. Meanwhile, the spot Bitcoin ETFs continued accumulating BTC, witnessing billions in net inflows.
The effect of the spot Bitcoin ETFs, the Bitcoin halving event, and monetary policy decisions from central banks may impact BTC prices going ahead.
Bitcoin is currently trading at around $41,100 on January 22, 2024, with BTC/USD trading lower by a margin of 1% in the last 24 hours. Bitcoin’s market cap was trading at around $805 billion.
BTC/USD is trading lower than its 20-day EMA (43,565.70), as BTC’s 24-hour volume was at around $13 billion. The crypto market cap decreased by around 1.55%, trading above $1.62 trillion. BTC’s year-to-date returns are at -1.46%.
Millionero, a user-friendly crypto exchange, is the perfect platform to kickstart your crypto trading journey. Join us today!