Cryptocurrency News

Crypto Consolidation Continues – Bitcoin’s Attempt to Rise Above Psychological Levels Is Less – Markets and Prices Bitcoin News

The digital currency market cap has declined over the past 12 hours as the entire crypto-economy has declined by over 7% during the past 24 hours. Bitcoin attempted to cross the handle of $40k but was stopped at $39,490. Since then, bitcoin is down 7.3% during the trading session on Friday morning (EST).

Bitcoin Attempts Lose $40K, Crypto Prices Remain Range-bound

  • bitcoin (btc) Psychological is down today after trying to cross the $40,000 area but was turned lower. B T c Today is down more than 7.3% and is currently swapping for $35,890 per unit.
  • leading crypto asset B T c Lost Some Steam After Elon Musk tweeted Sharing some memes and broken heart emojis about the digital currency on Twitter.
Crypto Consolidation Continues - Bitcoin's Attempt to Rise Above Psychological Levels Comes Down
B T c/USD on Friday, June 4, 2021.
  • Shows 30 day statistics B T c is down 36% while three-month statistics show bitcoin (B T c) there is a loss of more than 25%. The leading crypto asset had a record high above $64k almost two months ago.
Crypto Consolidation Continues - Bitcoin's Attempt to Rise Above Psychological Levels Comes Down
ETH/USD on Friday, June 4, 2021.
  • The second largest crypto asset in terms of market valuation is Ethereum (ETH) Which is swapping for $2,576 per unit at the time of publication. Up more than 8% on Friday and down 26% during the past month.
  • Global trade volume among all 9,000+ crypto-assets in existence has slipped 5% during the past 24 hours with $76.21 billion in global trade volume.
  • Friday’s Biggest Gainer tokenomy (TEN) which is up 139% during Friday morning’s trading session and Cube (AUTO) is today’s biggest loser with losses of over 60%.

  • data from in the block analysis shows that B T c Prices are just above support. “IOMAP shows that 1 million addresses had previously purchased approximately 570K bitcoins at a price of approximately $35,600,” researchers at Into the Block note. “Due to the heavy buying activity around this area, strong support is expected from new buyers and existing holders. If this level fails, a drop to $32,000 is likely,” the researchers said.
  • The Into the Block team notes that B T c May remain consolidated for some time. “Due to the high concentration of volume currently near the price, it is likely that the price could be range bound, unless there is a major catalyst in either direction,” the researchers elaborated. “Ultimately, it is possible that a breakout in either direction for Bitcoin will take the rest of the crypto markets along.”

What do you think about the current state of the market today and where do you think the price of bitcoin and other digital assets are headed? Let us know what you think about this topic in the comment section below.

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