Bitcoin successfully traded over the $43,000 mark in the last few days, helping sustain the crypto support level and sentiments for the last week of the year.
After moving past $43,000 during the weekend, Bitcoin has been range-bound for the last 24 hours. It dipped a little below $43,500, but its strength around its support level is robust. The crypto support level could be crucial for the next few days as BTC attempts a year-end rally. The Christmas trading day for the crypto market saw a vast upward trend from that of 2022 when several token prices were under losses.
Experts have predicted a last push from the crypto market within this week for a big price jump at the beginning of 2024. While the overall outlook for the market is bright, the macro events of 2024 will be closely watched. Meanwhile, several tokens are currently trading with positive weekly gains. ETH has gained around 4.9% during the week, with a market cap of $482 billion. Meanwhile, Solana witnessed vast returns of 60% over the week.
Traders could target $45,000 for BTC this week and hold it till the year’s end. If they can do so, the $50,000 trading level could be possible by January 2024. Moreover, the altcoin rally in the market could also continue next year.
BTC/USD 1D price chart
Bitcoin is currently trading at around $43,100 on December 25, 2023, with BTC/USD trading lower by a margin of 1.6% in the last 24 hours. Bitcoin’s market cap was trading at around $844 billion.
BTC/USD is trading higher than its 20-day EMA (41,985.40), as BTC’s 24-hour volume was at around $19 billion. The crypto market cap decreased by around 1.34%, trading above $1.66 trillion. BTC’s year-to-date returns are above 160.50%
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