Multiple tokens witnessed a slight decline in the last 24 hours, but the gains from the latest crypto run were firm with positive signals.
The crypto market was flush with bullish signs as Bitcoin traded over $30000. In the last 24 hours, traders observed the crypto run slowing down slightly, but no major loss was seen in any of the major crypto tokens. The three-day rally could see itself facing a hurdle for the time being.
The spot Bitcoin ETF had triggered a tremendous response from buyers, catapulting Bitcoin above $30000 in a quick period. For now, the excitement seems to have subsided, but Bitcoin’s support is robust at $29700.
Other crypto tokens lost steam as major ones like Solana, BNB, and Polygon declined by over 4% each, with the crypto market cap trading at around $1.17 trillion. Bitcoin’s market capitalization, on the other hand, was at around $582 billion, while its dominance was at 50%.
In the current situation, Bitcoin’s inability to cross $30700 could be responsible for the slowdown in the crypto run, and there’s a chance BTC could fall to $29300 with increasing selling pressure. But even then, it would be above its lower levels of the previous week when it dipped below $25000 due to panic selling arising out of regulatory issues.
BTC/USD 1D price chart
Bitcoin is currently trading at around $30000 on June 23, 2023, with BTC/USD down by around 0.2% in the previous 24 hours. BTC/USD is trading above its 20-day EMA (27,116.48) as BTC’s 24-hour volume dipped below $19 billion. Bitcoin has seen around 81.11% returns on a year-to-date basis.