Reddit chooses cryptocurrencies. The famous social network Reddit goes public under the ticket RDDT and invests in Bitcoin and Ethereum, marking its entry into the cryptocurrency market. This confirms its commitment to Web 3.
The Bitcoin halving is getting closer, and miners continue to adopt distribution behavior. However, it is possible that these sales will slow down. The price of Bitcoin is currently absorbing these sales, BTC continues to evolve beyond $50,000.
Bitcoin price stagnates in 24 hours
The king of cryptocurrencies will probably not score not another bullish week. There is still a little time to start rising again, but the price of Bitcoin stagnates in 24 hours And drop of 1.5% in one week :
Despite this slight drop in one weekthe price shows an increase of almost 30% in one month and of 35% in three months. For its part, the BTC/ETH pair stagnates in 24 hoursbut she drop of 7% in one week.
The ATH has already been broken for some pairs
Bitcoin has seen its first spot Bitcoin ETF be validated by the SEC several weeks ago. Overall, it isa success since the startup was one of the best in Wall Street history. A success which highlights the recent bad faith from the European Central Bank. As the popular expression goes, men lie, but numbers don’t.
Bitcoin has already surpassed its last all-time high against certain currencies such as the yen (Japan), the Naira (Nigeria), and the Turkish dollar. After more than two years, the Bitcoin still has not reached an all-time high against the dollar and against the euro. However, the BTC is approaching its last ATH at high speed located approximately $69,000. Some analysts even believe that BTC could explode your last ATH before the end of the year.
Towards a return to resistance at $52,500?
IN 4 hours, the price of Bitcoin evolves within a tidy enter here upper limit located at $52,500and the lower limit around $50,500. For several days, the institutional bias (EMA 9/EMA 18) bearish blocks the course:
A loss of $50,500 could bring the price back to the level of next support located at $47,500. If buyers defend the support, a return to the top of the range is possible. Whatever happens, it will be necessary break away from resistance at $52,500 to find some bullish volatility. The RSI displays a bearish dynamics under the bearish trendlineTHE sellers have their hands on momentum. However, a break of the bearish trendline could cause bullish volatility.
The price of Bitcoin has already marked a new ATH against certain pairs. Against the dollar, the price is getting closer to its old ATH. Will BTC join the ATH in the coming months? In the short term, it will be necessary to maintain $50,500 and get rid of the resistance at $52,500 to continue the upward momentum. Is Ethereum’s bull run just beginning?