News

Bitcoin (BTC) Price Close To This Level For Next Support Range?

Bitcoin (BTC) Price needs to break a crucial resistance point to be able to find long term support for a rally, as per crypto analysts.
Published by
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

Advertisement

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.

Advertisement
Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’

The crypto market turned sharply lower on Tuesday after Federal Reserve Chair Jerome Powell said…

October 30, 2025
  • News

FOMC Meeting: Federal Reserve Lowers Interest Rates by 25 Bps in Second Cut of the Year

The U.S. Federal Reserve has announced it has lowered the interest rate by another 25…

October 29, 2025
  • News

WLF Token Jumps 7% as Former Robinhood Counsel Joins Trump-Backed World Liberty Financial

World Liberty Financial (WLFI) has appointed Mack McCain as its new General Counsel. This marks…

October 29, 2025
  • News

Changpeng Zhao “CZ” Warns Investors “Don’t Buy” Golden Statue Meme Coin After 27,000% Surge

Binance founder Changpeng Zhao (CZ) has publicly distanced himself from a newly launched token inspired…

October 29, 2025
  • News

Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern

Bitcoin traders are preparing for a rise or fall in the price of Bitcoin, as…

October 29, 2025
  • News

Trump Tariff: China Resumes U.S. Imports After Agreement With South Korea

Trump tariff tensions have begun to ease as China resumed purchasing U.S. agricultural products for…

October 29, 2025