Friday, June 14, 2024

CRYPRO NEWS – Bitcoin Price at $30K Heading for First Green Week After 9 in Red

CRYPRO NEWS – Bitcoin Price at $30K Heading for First Green Week After 9 in Red
00:01 Intro
01:12 Crypto News Today
02:08 Bitcoin News Today
03:15 Ethereum News
04:27 Bitcoin Te
Although bitcoin continues to struggle below $30,000, the cryptocurrency is actually close to breaking its nine-week-long negative weekly streak. At the same time, some altcoins, such as Solana and Avalanche, have registered impressive recoveries today.

Bitcoin to Stop the Negative Weekly Streak?
Following the end of March, when BTC had spiked by more than $10,000 in just 14 days, the asset began what it later became its longest retracement in terms of weekly candles.

At the start of May, bitcoin equaled the previous record of 6 consecutive red candles before it broke it and registered its 9th last week. Within this timeframe, the asset lost roughly $20,000 of its value and dumped to a year-and-a-half low.

BTC closed last week at $29,250 (on Bitstamp), at which point it bounced off and even jumped to over $32,000 days ago. However, it failed there and has returned below $30,000 as of now. Nevertheless, it’s still several hundred dollars above $29,250, meaning that it’s on the verge of breaking the negative streak.

Sitting close to $30,000 now means that BTC’s market cap is still around $565 billion, while its dominance over the alts is above 46%.


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