Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
However, at the time of writing, Bitcoin had given back some of its previous-day gains, rising only 0.11% in the previous 24 hours to $28,435.• Break past $29.5k could lead to $30k target 🎯On X, Glassnode founder"Negentropic" provides some context for BTC's current price action. He noted that Bitcoin currently hovers above the 100-hourly SMA with its sustained price action above $28,000.
In a further analysis of the price, the Glassnode cofounder spotted an immediate resistance for the BTC price at $28,550. if Bitcoin sustains a break past this immediate barrier and then the $29,500 mark, the price might reach $30,000.In the event of this scenario, Bitcoin has the potential to surpass $30,000, even reaching $30,650, if the momentum is sustained.
Meanwhile, in another bullish indication, Bitcoin's number of wallets holding at least 100 BTC has jumped to 15,970, on-chain analytics firm Santiment stated in a tweet.Optimism likewise remains, with the approval of a Bitcoin spot ETF. Galaxy head Michael Novogratz expects the U.S. Securities and Exchange Commission to finally approve exchange-traded funds that invest directly in Bitcoin this year.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »