ي#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #wct $BTC
ي$BNB
ي$SOL
The price of Bitcoin is currently trading at around $108.3 thousand.
The market has seen a liquidation of $487.78 million in Bitcoin.
Digital assets are trending downwards, as the total market cap of cryptocurrencies has decreased by more than 4.09%, reaching $3.65 trillion. All major assets have declined, including the largest, Bitcoin (BTC). This asset is trying to escape the downward trap and has entered the fear zone with the Fear and Greed Index stabilizing at 34.
As of October 30, Bitcoin has become one of the trending currencies, having recorded a loss of over 4.56% in the last 24 hours. The asset opened its daily trading at a high price range of around $113,642.72. With the return of declines in the market, the price of Bitcoin fell to a low of $108,057.61. At the time of writing this report, Bitcoin is trading at around $108,332.
Additionally, the daily trading volume has increased by over 23.81%, reaching $76.78 billion. The market also witnessed a liquidation of $487.78 million in Bitcoin over the past 24 hours, according to Coinglass data.
Will Bitcoin hold its ground, or are there more losses ahead?
Both the convergence and divergence lines of the moving average and the signal lines for the BTC/USDT pair are below the zero line, indicating a bearish market condition. The overall trend may remain bearish until the MACD indicator crosses above the zero line. Additionally, the Chaikin Money Flow (CMF) for Bitcoin is at -0.11, suggesting slight selling pressure in the market. The outflow of money from the asset slightly exceeds the inflow into it, although it is not strongly bearish.
As the price of Bitcoin declines, it may drop and find support at the range of $108,322. Any extended bearish correction may add additional pressure, potentially leading to a bearish crossover. Bears may push the price down to $108,312. Assuming a momentum reversal, bulls may drive the price of Bitcoin up and test the resistance level at $108,342. Any further bullish correction may trigger a golden crossover, leading it towards the area of $108,352 or higher.
Furthermore, the daily Relative Strength Index (RSI) for Bitcoin at 30.44 indicates a potential reach to the oversold area. The price is also approaching a potential rebound zone. If the RSI drops below 30, it is often considered a bullish reversal signal. The reading of the Bull-Bear Power (BBP) for Bitcoin at -5,329.92 indicates strong bearish dominance in the market. When the value is extremely negative, it may drive the price down significantly. This indicates intense selling pressure and weak buying activity.