Bitcoin consolidates near $28k as markets remain on edge

Bitcoin consolidates near $28k as markets remain on edge Bitcoin BTC Bitcoinprice

- The crypto market remains resilient in the midst of the spreading banking crisis as the efforts by governments to halt the contagion continue to be overwhelmed by the dire realities present in the global financial system, leading investors to take a closer look at cryptocurrencies.

Data provided by TradingView shows that Bitcoin remains in a consolidation pattern near support at $28,000, where it has been trading over the past week as investors have once again started turning to the top crypto for its safe-haven status.A slowdown in momentum for Bitcoin was evident in the futures market, according to Kitco senior technical analyst Jim Wyckoff, who noted that “April Bitcoin futures prices are weaker in early U.S. trading,” in his morning Bitcoin update.

— Michaël van de Poppe March 23, 2023 A look at what the price action for the top crypto may look like moving forward was provided by decentralized finance analyst Yoddha, who posted the following chart highlighting a fractal pattern that could see bitcoin rally to $50,000, pull back to $30,000, and then surge to new all-time highs.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

KitcoNewsNOW /  🏆 13. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

COVID-19 pandemic cost Quebec $28 billion: finance departmentExpenses are planned until 2025, though much less than during the first year of the pandemic.
Read more »

Bitcoin [BTC] loses grip on $28k as rate hike continues, undeterredThe FOMC increased interest rates by 0.25, leading to BTC’s price drop On-chain analysts and Bitcoin maximalists maintained a bullish stance Bitcoin’s [BTC] price fell below the $28,000 threshold following the release of the U.S. Federal Open Market Committee (FOMC) decision on interest rates. The FOMC is the country’s Federal Reserve division responsible for evaluating […]
Read more »

Crypto momentum returns as Bitcoin price climbs back above $28KThe cryptocurrency market resumed its upward trend on Thursday as investors realized that Fed Chair Powell signaled a possible end of the interest rate hiking campaign.
Read more »

Bitcoin: Evaluating the current market conditions in the wake of FUDNew data suggests that Bitcoin’s bull market could continue. Short positions against Bitcoin rise as the MVRV ratio increases. Bitcoin has undergone substantial price fluctuations in the past few months. This has raised speculations about its future prospects. However, data from CryptoQuant suggests that Bitcoin could now be in a bull market. And this might […]
Read more »

Bitcoin price slammed below $27K in the wake of the Fed's interest rate hikeThe Federal Reserve hiked interest rates by 25 basis points, sending asset prices whipsawing across financial markets.
Read more »

Bitcoin [BTC] bulls undeterred by macro mayhem, new report showsIn its new report, Galaxy found that BTC traders have remained optimistic. On-chain data suggests that BTC’s price could rise further if positive conviction remains. While uncertainty lingers around the Federal Reserve’s rate decisions, on-chain data revealed that optimism subsists in Bitcoin’s [BTC] market, as many expect the king coin’s price to grow further, Galaxy […]
Read more »