Most major cryptocurrencies, including Bitcoin and Ethereum, have seen their prices fall in recent days. Due to this, Bitcoin has already gone below $22,000, continuing its downward trajectory, and the market capitalization of all cryptocurrencies is getting close to $1 trillion.
The US CPI numbers, which could result in big price changes in the cryptocurrency market, will continue to be the market’s main concern as the day goes on.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 22,138.70 |
Bitcoin Price Prediction
The current price of bitcoin is $21,700, with a $22 billion 24-hour trading volume. In the past day, Bitcoin has lost 0.14%, and according to CoinMarketCap, it is currently ranked 1. $418 billion is the market capitalization of it.
Technically speaking, Bitcoin has demolished a key support level at $21,700 and is now tumbling towards the following support area at $21,290. The 38.6% Fibonacci retracement level of $21,290 may act as resistance if the stock declines further.
However, if the bearish trend continues, Bitcoin may drop to the $20,300 level of the 50% Fibonacci retracement.
However, if candles close above the $22,375 mark, there may be a chance for a bullish bounce in the price of bitcoin. The next resistance level for BTC is $24,260, and it might be reached if buyers come in and exert further pressure.
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