HomeCoinsBitcoin (BTC)Crypto Consolidation Continues — Bitcoin's Attempt to Rise Above Psychological Levels Falls...

Crypto Consolidation Continues — Bitcoin’s Attempt to Rise Above Psychological Levels Falls Short – Markets and Prices Bitcoin News

- Advertisement -


Digital currency markets have slid in value over the last 12 hours as the entire crypto-economy has lost over 7% during the last 24 hours. Bitcoin attempted to cross the $40k handle but was stopped at $39,490. Since then, bitcoin has dipped 7.3% during the early morning (EST) trading sessions on Friday.

Bitcoin $40K Attempt Stopped Short, Crypto Prices Remain Range-Bound

  • Bitcoin (BTC) is down today after trying to surpass the psychological $40,000 region but was stopped short. BTC is down more than 7.3% today and is currently swapping for $35,890 per unit.
  • The leading crypto asset BTC lost some steam after Elon Musk tweeted about the digital currency on Twitter by sharing some memes and a broken heart emoji.
Crypto Consolidation Continues — Bitcoin's Attempt to Rise Above Psychological Levels Falls Short
BTC/USD on Friday, June 4, 2021.
  • 30 day stats show BTC is down 36% while three-month stats show bitcoin (BTC) has lost over 25%. The leading crypto asset’s all-time high above the $64k handle took place around two months ago.
Crypto Consolidation Continues — Bitcoin's Attempt to Rise Above Psychological Levels Falls Short
ETH/USD on Friday, June 4, 2021.
  • The second-largest crypto asset in terms of market valuation is ethereum (ETH) which is swapping for $2,576 per unit at the time of publication. Down more than 8% on Friday and down 26% during the course of the last month.
  • Global trade volume among all 9,000+ crypto-assets in existence has slipped 5% during the last 24 hours and there’s $76.21 billion in global trade volume.
  • Friday’s biggest gainer is tokenomy (TEN) which is up 139% during Friday morning’s trading sessions and cube (AUTO) is today’s biggest loser with a loss of more than 60%.

  • Data from Into the Block analytics shows that BTC prices are just above support. “The IOMAP reveals that 1 million addresses had previously bought approximately 570K Bitcoin at a price of around $35,600,” researchers from Into the Block note. “Due to the large buying activity around this area, there is expected to be strong support from new buyers and current holders. Were this level to fail, then a drop to $32,000 is likely,” the researchers added.
  • The Into the Block team notes that BTC may stay consolidated for some time. “Due to the high concentration of volume currently near price, it is likely that price may continue range-bound, unless there is a major catalyst in either direction,” the researchers detail. “Finally, it is probable that a breakout in either direction for bitcoin will lead the rest of the crypto markets along.”

What do you think about the current state of markets today and where do you think bitcoin and the other digital asset prices are headed? Let us know what you think about this subject in the comments section below.

Tags in this story
Auto, Bitcoin, BTC, crypto assets, Cube, ETH, Ethereum, Into the Block, Market Cap, Market Valuation, Markets, markets and prices, Ten, Tokenomy, trading, Volumes

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 23,172.21
ethereum
Ethereum (ETH) $ 1,709.38
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 142.20
litecoin
Litecoin (LTC) $ 61.40
eos
EOS (EOS) $ 1.24
okb
OKB (OKB) $ 18.53
tezos
Tezos (XTZ) $ 1.89
leo-token
LEO Token (LEO) $ 4.96
cardano
Cardano (ADA) $ 0.518196
monero
Monero (XMR) $ 162.49
stellar
Stellar (XLM) $ 0.121574
chainlink
Chainlink (LINK) $ 7.85
huobi-token
Huobi (HT) $ 4.37
tron
TRON (TRX) $ 0.069899
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 53.06
neo
NEO (NEO) $ 11.56
iota
IOTA (MIOTA) $ 0.344184
nem
NEM (XEM) $ 0.052758
zcash
Zcash (ZEC) $ 67.67
maker
Maker (MKR) $ 1,113.31
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 38.25
vechain
VeChain (VET) $ 0.031448
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX (FTT) $ 30.81
kucoin-shares
KuCoin (KCS) $ 10.55
waves
Waves (WAVES) $ 6.18