Bitcoin has been moving fairly sideways now, since the past few days. The markets have been majorly dominated by buyers in this period with significantly higher volumes as compared to the previous weeks as the market sentiment sees a positive jump to double figures. On the hourly time-frame, the BTC chart has been moving horizontally within a triangle pattern. The next support for Bitcoin is expected at $24,000," said the WazirX Trade Desk.
Speaking on the crypto market movement, the CoinDCX research team said, “Market volatility appears to have come down quite a bit, with the price action of both equities and crypto showing signs of stabilisation. Investor sentiment remains tilted towards the bearish side, however, given that there has been no significant improvement in the global macroeconomic environment and that governmental policies still favours a continued tightening of balance sheets."
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