Bitcoin Price Edges Higher: Is New ATH Possible Ahead Of Halving
Bitcoin price hovers close to All time high value and is showing accumulation in the last few sessions.
The BTC price currently trades close to $69,400 and has dropped nearly 2.60% in Intraday.
The Bitcoin price started off the week with a negative note on Monday and has dropped nearly 2.60% in Intraday on Monday. At press time, the crypto was hovering close to $69,400 and has loomed towards the lower boundary of the accumulation.
Earlier, the BTC/USD pair has been witnessing an accumulation near the previous all time high value. The accumulation has been of nearly six intraday sessions and the pride hasn’t been able to find a clear direction since then.
On the higher side, the $71,600 level has been acting as a supply and stooping to price to rise further. Whereas, on the lower side, $68,076 level has been acting as a demand and preventing further fall.
The long term trend outlook is bullish due to which a breakout of the range is anticipated. Also, the key moving averages are leaving a positive note which adds a confirmation for a breakout.
Whereas, if the BTC price breaks the lower boundary of the accumulation and 20 day EMA, it may head straight towards the 50 day EMA. The 50 day EMA is currently placed at $62,700 which is also the previous support zone.
Bitcoin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (BTC), Volume (BTC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&pt=BTC&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2333bd5d%3B%23aab4db&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The volume analysis shows that Bitcoin received $24.25 Billion volume inflow in the past 24 hours which is nearly 38% higher than the previous day. The live market capitalization of BTC cryptocurrency is 1.371 Trillion USD. The volume to market capitalization ratio is 1.74% indicating low volatility.
It has a current circulating supply of 19.67 Million BTC tokens which is 93.67% of the total supply. The total supply of Bitcoin is 21 Million tokens.
Bitcoin Price Holdings Analaysis
<iframe title="Santiment Chart: [0.001 - 0.01) coins (BTC), [0.01 - 0.1) coins (BTC), [1 - 10) coins (BTC), [10 - 100) coins (BTC), [1,000 - 10,000) coins (BTC), [10,000 - 100,000) coins (BTC),
The BTC price currently trades close to $69,400 and has dropped nearly 2.60% in Intraday.
The Bitcoin price started off the week with a negative note on Monday and has dropped nearly 2.60% in Intraday on Monday. At press time, the crypto was hovering close to $69,400 and has loomed towards the lower boundary of the accumulation.
Earlier, the BTC/USD pair has been witnessing an accumulation near the previous all time high value. The accumulation has been of nearly six intraday sessions and the pride hasn’t been able to find a clear direction since then.
On the higher side, the $71,600 level has been acting as a supply and stooping to price to rise further. Whereas, on the lower side, $68,076 level has been acting as a demand and preventing further fall.
The long term trend outlook is bullish due to which a breakout of the range is anticipated. Also, the key moving averages are leaving a positive note which adds a confirmation for a breakout.
Whereas, if the BTC price breaks the lower boundary of the accumulation and 20 day EMA, it may head straight towards the 50 day EMA. The 50 day EMA is currently placed at $62,700 which is also the previous support zone.
Bitcoin Crypto Volume Analysis
<iframe title="Santiment Chart: Price (BTC), Volume (BTC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&pt=BTC&df=2023-12-01T00%3A00%3A00.000Z&dt=2024-03-22T18%3A29%3A59.514Z&sat=shchcfg_hOTFUTWfTB1O&emcg=1&emhwm=1&wm=price_usd%3Bvolume_usd&wax=0%3B1&wc=%2333bd5d%3B%23aab4db&ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
The volume analysis shows that Bitcoin received $24.25 Billion volume inflow in the past 24 hours which is nearly 38% higher than the previous day. The live market capitalization of BTC cryptocurrency is 1.371 Trillion USD. The volume to market capitalization ratio is 1.74% indicating low volatility.
It has a current circulating supply of 19.67 Million BTC tokens which is 93.67% of the total supply. The total supply of Bitcoin is 21 Million tokens.
Bitcoin Price Holdings Analaysis
<iframe title="Santiment Chart: [0.001 - 0.01) coins (BTC), [0.01 - 0.1) coins (BTC), [1 - 10) coins (BTC), [10 - 100) coins (BTC), [1,000 - 10,000) coins (BTC), [10,000 - 100,000) coins (BTC),