{"id":1403,"date":"2023-02-24T17:02:56","date_gmt":"2023-02-24T22:02:56","guid":{"rendered":"https:\/\/embarrdowns.com\/bitcoin-struggling-to-break-the-25k-resistance-level\/"},"modified":"2023-02-24T17:02:57","modified_gmt":"2023-02-24T22:02:57","slug":"bitcoin-struggling-to-break-the-25k-resistance-level","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/bitcoin-struggling-to-break-the-25k-resistance-level\/","title":{"rendered":"Bitcoin Struggling to Break the $25K Resistance Level"},"content":{"rendered":"

Bitcoin is currently trading at around $24,000 and has not made any significant moves for the past few days.[0]<\/a><\/sup> The $25,000 mark is a crucial region, and traders are closely monitoring this level.[0]<\/a><\/sup> If the bulls manage to break above this resistance level, we could see another breakout for Bitcoin in the short term.[0]<\/a><\/sup> The global crypto market cap stands at $1.097 trillion, and Bitcoin\u2019s dominance rate is 42.3%.<\/p>\n

In the last 24 hours, the cryptocurrency market cap saw an influx of $4.1 billion, pushing it up 0.4% from the previous total of $1.09 trillion to a current total of $1.09 trillion. The price of Bitcoin has fallen 2% over the past 24 hours to below $23,850, though it is still up some 40% this year.<\/p>\n

Currently, the price of Bitcoin is approximately $24,700, having risen 15% in the past seven days. Last week, Bitcoin maintained its key support at $21.5K, a level which acted as resistance in November prior to the last dip in BTC\/USD. Subsequently, Bitcoin has now climbed to $25K.[1]<\/a><\/sup> In August of last year, Bitcoin reached its previous peak here.[1]<\/a><\/sup> This is an important degree.[1]<\/a><\/sup> If the market rises above $25K, the bulls would be encouraged that the market has hit its lowest point.[1]<\/a><\/sup> Should that occur, we might observe additional technical purchases over the next several days, up to the mid-$20K range.[1]<\/a><\/sup> As a result, other crypto prices could potentially be bolstered by this potential breakout.[1]<\/a><\/sup><\/p>\n

If the price drops below $23,500 in the near future.[2]<\/a><\/sup> Our next goal for Bitcoin is to reach the $21,500 mark.[3]<\/a><\/sup> The market is likely to remain volatile at the $25,000 level due to its psychological importance, potentially leading to a decrease in value.[4]<\/a><\/sup> [4]<\/a><\/sup><\/p>\n

Fears of additional interest-rate increases, a waning stock market rally, and the US government’s crackdown on cryptocurrencies all point to Bitcoin and other tokens needing to make a speedy exit.[5]<\/a><\/sup> They are prolonging their recovery for 2023.[5]<\/a><\/sup> The divergence has weakened the previously observed positive relationship between stocks and cryptocurrencies that had emerged during the pandemic.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Bitcoin Price Prediction Daily (24-Feb-2023) Levels to Watch on the Hourly Timeframe” Bitcoinsensus, 24 Feb. 2023, https:\/\/www.bitcoinsensus.com\/bitcoin-price-prediction-daily-24-feb-2023-levels-to-watch-on-the-hourly-timeframe\/<\/a><\/a><\/p>\n

1. <\/span>“Bitcoin hits $25K key resistance” FOREX.com, 20 Feb. 2023, https:\/\/www.forex.com\/en\/market-analysis\/latest-research\/bitcoin-hits-25k-key-resistance\/<\/a><\/a><\/p>\n

2. <\/span>“Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $24,500” NewsBTC, 24 Feb. 2023, https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-fade-24500\/<\/a><\/a><\/p>\n

3. <\/span>“Bitcoin Slips Below $24,000 as Crypto Traders Eye PCE Inflation Data” Barron’s, 24 Feb. 2023, https:\/\/www.barrons.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-dca33115<\/a><\/a><\/p>\n

4. <\/span>“BTC\/USD Forecast: Struggles With Noise just Above” DailyForex.com, 24 Feb. 2023, https:\/\/www.dailyforex.com\/forex-technical-analysis\/2023\/02\/btcusd-forecast-24-february-2023\/191938<\/a><\/a><\/p>\n

5. <\/span>“Bitcoin Breaks Away From Stocks in 50% Surge Defying Macro Peril” Yahoo! Voices, 21 Feb. 2023, https:\/\/www.yahoo.com\/now\/bitcoin-breaks-away-stocks-50-101313701.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is currently trading at around $24,000 and has not made any significant moves for the past few days.[0]<\/a><\/sup> The $25,000 mark is a crucial region, and traders are closely monitoring this level.[0]<\/a><\/sup> If the bulls manage to break above this resistance level, we could see another breakout for Bitcoin in the short term.[0]<\/a><\/sup> The global crypto market cap stands at $1.097 trillion, and Bitcoin\u2019s dominance rate is 42.3%.<\/p>\n

In the last 24 hours, the cryptocurrency market cap saw an influx of $4.1 billion, pushing it up 0.4% from the previous total of $1.09 trillion to a current total of $1.09 trillion. The price of Bitcoin has fallen 2% over the past 24 hours to below $23,850, though it is still up some 40% this year.<\/p>\n

Currently, the price of Bitcoin is approximately $24,700, having risen 15% in the past seven days. Last week, Bitcoin maintained its key support at $21.5K, a level which acted as resistance in November prior to the last dip in BTC\/USD. Subsequently, Bitcoin has now climbed to $25K.[1]<\/a><\/sup> In August of last year, Bitcoin reached its previous peak here.[1]<\/a><\/sup> This is an important degree.[1]<\/a><\/sup> If the market rises above $25K, the bulls would be encouraged that the market has hit its lowest point.[1]<\/a><\/sup> Should that occur, we might observe additional technical purchases over the next several days, up to the mid-$20K range.[1]<\/a><\/sup> As a result, other crypto prices could potentially be bolstered by this potential breakout.[1]<\/a><\/sup><\/p>\n

If the price drops below $23,500 in the near future.[2]<\/a><\/sup> Our next goal for Bitcoin is to reach the $21,500 mark.[3]<\/a><\/sup> The market is likely to remain volatile at the $25,000 level due to its psychological importance, potentially leading to a decrease in value.[4]<\/a><\/sup> [4]<\/a><\/sup><\/p>\n

Fears of additional interest-rate increases, a waning stock market rally, and the US government’s crackdown on cryptocurrencies all point to Bitcoin and other tokens needing to make a speedy exit.[5]<\/a><\/sup> They are prolonging their recovery for 2023.[5]<\/a><\/sup> The divergence has weakened the previously observed positive relationship between stocks and cryptocurrencies that had emerged during the pandemic.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Bitcoin Price Prediction Daily (24-Feb-2023) Levels to Watch on the Hourly Timeframe” Bitcoinsensus, 24 Feb. 2023, https:\/\/www.bitcoinsensus.com\/bitcoin-price-prediction-daily-24-feb-2023-levels-to-watch-on-the-hourly-timeframe\/<\/a><\/a><\/p>\n

1. <\/span>“Bitcoin hits $25K key resistance” FOREX.com, 20 Feb. 2023, https:\/\/www.forex.com\/en\/market-analysis\/latest-research\/bitcoin-hits-25k-key-resistance\/<\/a><\/a><\/p>\n

2. <\/span>“Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $24,500” NewsBTC, 24 Feb. 2023, https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-fade-24500\/<\/a><\/a><\/p>\n

3. <\/span>“Bitcoin Slips Below $24,000 as Crypto Traders Eye PCE Inflation Data” Barron’s, 24 Feb. 2023, https:\/\/www.barrons.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-dca33115<\/a><\/a><\/p>\n

4. <\/span>“BTC\/USD Forecast: Struggles With Noise just Above” DailyForex.com, 24 Feb. 2023, https:\/\/www.dailyforex.com\/forex-technical-analysis\/2023\/02\/btcusd-forecast-24-february-2023\/191938<\/a><\/a><\/p>\n

5. <\/span>“Bitcoin Breaks Away From Stocks in 50% Surge Defying Macro Peril” Yahoo! Voices, 21 Feb. 2023, https:\/\/www.yahoo.com\/now\/bitcoin-breaks-away-stocks-50-101313701.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1402,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1403"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1403"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1402"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}