Despite increased regulatory scrutiny in the United States, Bitcoin remains strong at $26305, up 0.48% in the past 24 hours
Despite increased regulatory scrutiny in the United States, Bitcoin remains strong at $26305, up 0.48% in the past 24 hours. This stability occurred before the release of US Consumer Price Index (CPI) data. This is indeed worrying, as the release of US Consumer Price Index (CPI) data on Wednesday exacerbated volatility, especially as these data were slightly higher than expected. However, this is not the case, as BTC remains at $26000.
Glassnode co founders expect Bitcoin to exceed $30000?
Yann Allemann, co founder of the analysis company Glassnode, predicts that Bitcoin is about to significantly break through the $30000 mark. As Bitcoin returns to support levels above $26000, market sentiment around the cryptocurrency has become increasingly positive.
In addition, analysts believe that these temporary resistance and profit taking pressures may appear around $27400 and $28200, which are seen as stepping stones before Bitcoin reaches an important psychological level of $30000.
Analysis of BTC Price Trend
The price of Bitcoin has always shown an interesting trend. The current market value of Bitcoin exceeds $514 billion, with a 24-hour trading volume of approximately $8.16 billion, highlighting its enormous influence in the cryptocurrency market. Despite the recent daily death crossing between the 50 and 200 moving averages, the deviation from the daily relative strength index (RSI) is still significantly increasing.
Overall, despite regulatory challenges faced by Coinbase and Coinbase, Bitcoin remains resilient, approaching $26305. Positive emotions are approaching, and recent CPI data and strong market capitalization are helping to stabilize it. Glassnode's YannAllemann stated that it has the potential for further growth, with a target of $30000.
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