The cryptocurrency market has added 3.91% to its valuation and is currently veiled at $3.32 Trillion with a 24-hour trading volume of $201.934 billion. Following this, the Bitcoin price has reclaimed the $95k mark with an intraday surge of 3.18% and a trading volume of $71.091 billion.
Notably, the BTC price is forming a strong support/resistance level around the $95,000 mark, making it a crucial watch zone for the upcoming price action. Will the Star Crypto retest the $98k mark today or retest the $90,000 level?
After recording a negative price action this week, the Bitcoin crypto token has recorded a strong bullish recovery today. Despite recording a drop of 22.89% in its daily trading volume, it has reclaimed the $95k level, highlighting increased accumulation in the market.
The Relative Strength Index (RSI) has constantly declined for the third consecutive day. However, its average trendline shows a bullish curve. This highlights a mixed price sentiment for the BTC price today.
Moreover, the MACD indicator has experienced a decline in the green histogram with a high possibility of a Death Cross in the 4H time frame. This suggests that the Bitcoin token may soon retest its lower support level.
Over the past 24 hours, no BTC ETF recorded a negative flow for the first time this week. Notably, Bitwise’s “BITB” recorded the highest inflow of $48 million. Following this, Fidelity’s “FBTC” added $40.2 million, Grayscale’s “BTC” added $12 million and Franklin’s “EZBC” added $2.8 million.
On the other hand, ETFs like BlackRock “IBIT,” ARK’s “ARKB,” Invesco’s “BTCO,” Valkyrie’s “BRRR,” VanEck’s “HODL,” WTree’s “BTCW”, and Grayscale’s “GBTC” have recorded a neutral flow. With this, the total flow for the day concluded at +$103 million.
If the bullish sentiment sustains the BTC price may retest its resistance level of $96,500. Further, if the Bitcoin ETF records increased flow, this could push the price toward its $98,000 range.
On the flip side, if the bears regain momentum, the BTC crypto may retest its $93,000 range. Moreover, if the bears outrun the bulls, the star crypto may plunge toward its important support level of $91,800 during the upcoming hours.
To know about the long-term possibilities of the largest cryptocurrency, Read CoinPedia’s Bitcoin Price Prediction and also subscribe to us to stay updated on the latest crypto-related news!
With an intraday jump of ~3%, the BTC price is currently exchanging hands at $95,107.5.
If the bullish sentiment sustains, the star crypto may continue gaining value tomorrow.
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