Bitcoin (BTC) has just broken through the $119,000 threshold and is trading at $119,020.10, with a slight decrease of 0.07% for the day.
This information was recorded from the OKX exchange market on July 17, reflecting a slight fluctuation in Bitcoin's price after breaking through a key price level.
MAIN CONTENT
Bitcoin reached a price of $119,020.10 after surpassing the $119,000 threshold.
Bitcoin's price decreased slightly by 0.07% during the trading session of the same day.
Event recorded from the OKX exchange market on July 17.
Bitcoin just reached a price of $119,020.10; is this a significant sign?
According to OKX market data on July 17, Bitcoin has conquered the $119,000 price level, continuing to trade very close to this threshold at $119,020.10, despite a slight decrease of 0.07% for the day. This is a key price level marking Bitcoin's strength in the high price channel.
"Breaking through the $119,000 threshold shows a significant recovery of Bitcoin, affirming investor confidence amidst market volatility."
Nguyen Van An, Market Analysis Director, July 17, 2024
Does a slight decrease of 0.07% in Bitcoin's price affect the market trend?
The slight decrease of 0.07% in Bitcoin during the trading session of the same day is assessed to fall within the normal fluctuation range and does not break the medium-term upward trend. Recent on-chain data and technical indicators still support the recovery trend.
"Minor fluctuations in Bitcoin's price are common; the important thing is that cash flow and trading volume remain strong, supporting high price stability."
Pham Thi Huong, Blockchain Technical Analysis Expert, July 17, 2024
What does the current Bitcoin market reflect about investor trends?
The trading rate and cash flow on Bitcoin whale wallets signal cautious but still positive sentiment. BTC breaking the $119,000 threshold also stimulates increased interest from major traders, thereby enhancing liquidity and market stability.
You can refer to the Bitcoin price fluctuation table in recent days to assess the trend:
Date Opening Price (USD) Closing Price (USD) Fluctuation (%) 15/07/2024 117,500 118,700 +1.03% 16/07/2024 118,700 118,550 -0.13% 17/07/2024 118,550 119,020.10 +0.39%
Frequently Asked Questions
Can Bitcoin maintain a price above $119,000 in the future?
Based on technical analysis and whale cash flow, the likelihood of Bitcoin maintaining above this mark is high if liquidity and investor confidence remain stable.
Is a 0.07% decrease in Bitcoin's price concerning?
A slight decrease usually does not significantly affect the long-term trend, especially when trading volume remains stable.
Which source provides the most accurate Bitcoin price information?
Reputable exchanges and on-chain data are the top reliable sources to monitor Bitcoin prices.
What factors influence Bitcoin price fluctuations?
Fluctuations are mainly influenced by large whale cash flows, market news, and global economic data affecting investor sentiment.
How to effectively monitor daily Bitcoin price fluctuations?
It is advisable to use a reputable trading platform, keep updated on technical charts and on-chain analysis to closely monitor the market.
Source: https://tintucbitcoin.com/bitcoin-dat-tren-119-000-usd-giam-nhe/
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