After a week of volatility and constant triggers with macro events, the crypto weekend has taken a confident turn for a good week ahead.
Traders saw an eventful previous week for Bitcoin with constant predictions. Rate hikes, macro indicators, and other factors gripped the crypto market. As the crypto weekend draws to a close, traders have been witnessing a calm and firm market.
Despite indications of a loss from traders, Bitcoin has successfully held on to its support. Its trading range has been constant, with its support at $29000. Its 20-day moving average has also dipped. But, bulls could enter the market in higher volumes now since the major market indicators from the economy are over.
The rate hikes did not deter the market as some crypto stakeholders had predicted. The $29500 resistance for Bitcoin could still exist for some time. On the other hand, ETH is still between $1850 and $1900. It could be a good sign since it has maintained its market cap. BNB, Dogecoin, Cardano, and Litecoin traded in the green in the last 24 hours.
BTC is broadly flat, but its market cap has gently touched $570 billion, indicating a slight rise. A slew of crypto bills in the US could be a good sign for the upcoming week.
BTC/USD 1D price chart
Bitcoin is currently trading at around $29200 on July 30, 2023, with BTC/USD going down by 0.22% in the previous 24 hours. BTC/USD is trading below its 20-day EMA (30,119.93) as BTC’s 24-hour volume decreased to around $6 billion. Bitcoin has seen around 77.08% returns on a year-to-date basis.