With a static crypto market in the last 24 hours, neutral sentiments have taken over token prices with little signs of volatility in the same period.
At the close of July, Bitcoin is set to post monthly returns of around 5%. The last thirty days have been a turbulent period, starting with a dip and moving to a recovery. However, Bitcoin prices have seen only minor volatility in the last 24 hours, leading to a static crypto market. As a result, sentiments in the market are broadly neutral at present.
Bulls are likely anticipating moving forward to a BTC price breakout, helping it reach $100,000 by the end of 2024. A few bottlenecks may continue to stand in the way, though, including macroeconomic climates and political verdicts worldwide. A few crypto analyst firms have hinted towards a positive run for BTC within this year if bearish pressures remain subdued.
The current support for Bitcoin prices at $65,000 will likely hover on for some more time until BTC consolidates above $69,000. The latter price level has been a prime resistance zone for BTC since March 2024. Taking similar cues, other tokens have also witnessed a similar trajectory in the year so far.
In another positive news, BTC movements from wallets from a defunct exchange have stopped affecting Bitcoin prices. Early in July, movements from this exchange had induced a dip in the crypto market.
BTC/USD 1D price chart
Bitcoin is currently trading at around $66,100 on July 31, 2024, with BTC/USD trading lower by a margin of around 0.6% in the last 24 hours. Bitcoin’s market cap was trading at around $1.3 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (around 62,800), as BTC’s 24-hour volume was at approximately $28 billion. The global crypto market cap decreased by around 0.1%, trading above $2.3 trillion. BTC’s year-to-date returns are above 58%.
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