This Bitcoin (BTC) Level May Present A Jumping-On Point For Investors

Bitcoin (BTC) has registered a volatile start to the week, crashing below the $24,000 level in the past 24 hours.
Published by
This Bitcoin (BTC) Level May Present A Jumping-On Point For Investors

The world’s largest cryptocurrency, Bitcoin (BTC) has registered a volatile start to the week, crashing below the $24,000 level in the past 24 hours.

Advertisement

Watch for the $23.4K level

According to experts, Bitcoin’s Realized Price at $23.4K is the most watched level by the investors. It is expected that many investors will become a buyer if the world’s largest cryptocurrency breaks down under this level. However, BTC has seen a liquidation of over $410 million worth in the last 24 hours.

Bitcoin has been recording a continued collapse in its value since the beginning of the year. BTC’s prices are recorded to be down by over 42% in the past 60 days. It is trading at an average price of $23,648, at the press time. As per Glassnode, BTC is now hovering over its Realized Price level at $23,430. However, BTC’s 24 hour trading volume has jumped by more than 90% to trade at $63.47 billion.

It is the first time since December 2020 that Bitcoin has dropped below the $24k price level. However, the percentage of addresses enjoying profits from their BTC positions has gone under 50%. As per the IntoTheBlock, BTC trading in the $23k price range leaves only 46.68% of the addresses holding Bitcoin are in the money. It amounts to 21.49 million addresses.

Advertisement

Binance halts Bitcoin withdrawals

Meanwhile, Binance has Temporarily halted Bitcoin withdrawals on its platform. It mentioned that this is done due to a stuck transaction causing a backlog and it will soon be fixed.

However, the evolving crypto market has been on a constant decrease since it touched its all time high (ATH) of $3 trillion in November. It is now running with a total market capitalization of around $985 million. In the last 24 hours, over 259K traders have liquidated a total of $970.13 million.

Glassnode reported that the drop in BTC’s price has to lead in the 1+ Bitcoin holders. The tally of addresses has hit the ATH with 852,633.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

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

  • 24/7 Cryptocurrency News

Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown

Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…

October 4, 2025
  • 24/7 Cryptocurrency News

FLOKI Makes History With First ETP in Europe as Price Surges 30%

FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…

October 4, 2025
  • 24/7 Cryptocurrency News

BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert

Binance Coin (BNB), the native cryptocurrency of BNB Chain, has surged another 8% today, moving…

October 4, 2025
  • 24/7 Cryptocurrency News

Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury

Trump’s real estate portfolio is set to go on-chain amid World Liberty Financial’s announcement of…

October 4, 2025
  • 24/7 Cryptocurrency News

ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3

Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the…

October 4, 2025
  • 24/7 Cryptocurrency News

MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch

MetaMask, Consensys’ Web3 wallet, is set to introduce a reward points system for on-chain activities.…

October 4, 2025