After a week of macroeconomic triggers, Bitcoin has moved mildly upwards during the weekend, with the crypto trading charts in green.
The previous week saw trends moving around inflation reports of the US. Relatively cooler inflation has also led to a good response from the crypto market. Bitcoin did not see heavy sell-offs, and it moved up steadily. The current trends in the crypto trading charts could also be a sign that BTC could move upward in the week ahead.
The charts have been seeing a green trend during the weekend, though volatility has been low. Most crypto tokens have traded flat, while the overall crypto market cap increased by 0.1%. It is comfortably trading above $1.2 trillion presently.
The seven-day moving average for most tokens is positive. Bitcoin saw a weekly rise of 1.1%, while ETH settled with a 0.9% increase. Solana has increased 7% over the last seven days, while Shiba Inu rose 9.9%.
Analysts believe the lack of volatility could be a positive sign for BTC. Bitcoin has seen flat movements in the last few days but still hasn’t lost its support at $29000. Experts believe it has bottomed out and could only go up from here.
BTC/USD 1D price chart
Bitcoin is currently trading at around $29300 on August 13, 2023, with BTC/USD trading at the same position in the last 24 hours. BTC/USD is trading lower than its 20-day EMA (29,459.84) as BTC’s 24-hour volume decreased to around $6 billion. Bitcoin has seen around 77.34% returns on a year-to-date basis.