As of 6:51 p.m., the price of Bitcoin is at $30,329.72, reflecting a 2.73% change in the past 24 hours. Its market capitalization stands at $586,849,374,487.90. Bitcoin has experienced an 83.82% change so far this year.
After a rally that boosted digital assets in 2023, Bitcoin and other cryptocurrencies bounced back on Tuesday following a decline. Traders should be ready for additional weakness before a potential sharp spike.
Bitcoin’s price has risen by 2.5% in the past 24 hours, reaching $30,175. The most significant digital asset surpassed the critical $30,000 threshold last week, which is psychologically important because it was the price in June 2022 before the crypto sell-off accelerated into a severe bear market. Bitcoin, which is up approximately 80% this year, has struggled to consolidate above $30,000, let alone its recent high of nearly $31,000, and even fell below $29,500 on Tuesday.
“Support for Bitcoin is determined by past resistance, close to $25,200. This is a natural location for a pullback to retest…in the event of a decline, we will seek to position ourselves for a test of long-term resistance near $35,900,” stated Katie Stockton, the managing partner of technical research group Fairlead Strategies.