- Bitcoin addresses holding at least 0.1 BTC reached a record 4,482,538.
- Bitcoin’s price increased slightly, with a trading value of $25,874.88.
- Bitcoin’s value could potentially reach $30K in the next fortnight.
Yesterday, Bitcoin
Nonetheless, today, the count of addresses possessing more than 0.1 BTC coins has reached a new all-time high (ATH) of 4,482,538, slightly exceeding the prior record. Concurrently, CoinMarketCap data showed a minor upward trend in the leading cryptocurrency’s price as we enter the new week.
Over the past 24 hours, BTC has seen a slight rise in its price by 0.10%, pushing its trading value to $25,874.88. Importantly, this situates BTC nearer to its daily peak of $25,978.13 rather than its daily bottom of $25,640.26.
The price increase occurred simultaneously with a substantial rise of more than 43% in its intraday trading volume, leading to a trading volume of roughly $8,242,773,782 at the time of reporting. Nonetheless, there is still scope for potential enhancements in BTC’s performance over an extended period.
Over the previous week, BTC’s value experienced a slight decline of 0.45%. Concurrently, the digital currency underwent a significant drop exceeding 12% last month.
The price of BTC has been experiencing a period of stabilization over the last fortnight, maintaining a steady trading range between $24,695 and $26,915 at the time of reporting. Nevertheless, the forthcoming price fluctuations of BTC in the next few days could potentially result in the market frontrunner breaking free from this lateral channel.
Should an influx of buyers increase BTC’s value in the upcoming 72 hours, the resistance level of $26,915 could be converted into a support level for the cryptocurrency. Following this, the path would be clear for the premier cryptocurrency’s price to ascend to the next milestone of $30K within the subsequent fortnight.
Conversely, a surge in selling pressure could push BTC’s value to fall under the $24,695 support level. If the daily candle closes beneath this point, the cryptocurrency could decline to $21,930 in the subsequent week.
In the coming 24-48 hours, traders and investors must keep a close eye on the daily RSI indicator of BTC due to an impending significant technical flag. If the RSI line dips below the RSI SMA line, it will indicate that sellers are gaining dominance in BTC’s market.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
