Bitcoin (BTC) Price Close To This Level For Next Support Range?
Bitcoin (BTC) Price News: The crypto market is showing signs of improvement after November’s bloodbath that saw most assets dipping to very low levels. But the current environment is far from gaining stability towards a comprehensive bull run. Meanwhile, crypto exchange Binance is striving hard to prove that it is of sound financial health and that its reserves strongly back user assets. The last few weeks saw FUD over BNB coin after the crypto community raised concerns over the exchange’s policy on full transparency.
Also Read: XRP Lawsuit: Another Win For Ripple? Judge Partially Reject SEC’s Request
BTC Close To Finding New Support?
While BTC is stagnant around the current price range, it is yet to find a crucial support level. It can also be said that the top cryptocurrency needs to break the $16,900 resistance level to find a continuous price action upwards. As of writing, BTC price stands at $16,815, up 0.30% in the last 24 hours, according to price tracking platform CoinMarketCap. In this context, crypto traders believe Ethereum (ETH) is showing better resilience in comparison.
Michaël van de Poppe, a crypto trader, believes that BTC could have strong continuation if it breaks the $16,900 level. He also believes that BTC could see a price breakout in the context of Binance taking over Voyager assets. The Voyager asset deal, valued at $1.022 billion, could help the crypto lender unlock customer funds. With a distinction of being the biggest cryptocurrency exchange by trading volume, Binance faced some flak recently over its asset reserves.
“Bitcoin needs to crack $16.9K and then we can have strong continuation. Ethereum shows more strength regardless.”
Also Read: Largest Dogecoin Whale Moves 4 Billion DOGE, Is It Elon Musk?
The news of auditing firm Mazars suspending its services to several crypto exchanges including Binance has only compounded the situation for the company. Following the Mazars announcement, the BNB coin price dipped, making it even worse for Binance. However, the top 5 ranked cryptocurrency appears to be on the road to normalcy.
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
