News Formal

Led by Bitcoin, why is the crypto market up today?

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Bitcoin sees an increase of 2% in twenty-four hours. Though it is a slight uptick, is it the start of a new rally?

Bitcoin bulls are facing the stress of pulling prices back to the immediate support level of $68,000.

Going by the negative pattern Jerome Powell has established this year, interest rate decisions have proven to be bullish for Bitcoin, seeing as rate cuts aren’t coming anytime soon. They view the low Bitcoin prices as a chance to buy more coins at a bargain, to then sell them when market excitement picks up.

Conversely, a clear support level is evident near the $60,000 level, below which, if Bitcoin falls, further corrections to $55k and beyond could be witnessed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 22. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Led by Bitcoin, Ethereum, here’s why the crypto market is down todayToday’s crypto market downturn is just a bump in the road. Led by Bitcoin and Ethereum, long-term projections remain bullish.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Stock market today: Asian shares mostly higher, though China benchmarks falterAsian markets forged higher Tuesday after another day of gains on Wall Street, although Hong Kong's benchmark faltered. U.S. futures were nearly flat and oil...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »