- Bitcoin price has factored in a modest price dip of 0.04% in the last 24 hours.
- The cryptocurrency’s daily trading volume shows a 32.54% surge as per CMC data.
The crypto market’s adoption into the mainstream took an interesting turn in the past day. According to reports, the leading shopping platform, Amazon, expressed interest in Bitcoin. The firm’s shareholders have recommended that they examine the cryptocurrency as a potential inclusion in the treasury. Meanwhile, market prices have remained bullish over the last 24 hours.
On the other hand, Bitcoin shows a modest price dip on its daily chart. The digital asset is currently trading in the $99,000 range. Over the past few days, the cryptocurrency has been fluctuating around the $1 million margin, attempting to hold anchors above the mark.
However, in the past day, the price dip has caused BTC to recede below $100K. At the time of writing, Bitcoin was trading at $99,517 as per CMC data. Over the last 24 hours, the cryptocurrency’s price cycle included a starting point of $99,877 to an intraday high of $101,399.
Zooming out, over the past few days, one particular price dip occurred after the new $100K milestone. The dip took place immediately after the new ATH when large liquidations caused prices to fall to a low of $90,500. Bitcoin has managed to bounce back to current highs.
What Do Technical Indicators Suggest For Bitcoin Price?
Inferring to charts specify particular price actions for Bitcoin in the coming days For instance, its bull power indicator and bear power indicator values lie at 8.56 and -1.15 as per TradingView data. This points to a clear bullish overpower and thus suggests upward movements.
Moreover, BTC’s Chaikin money flow (CMF) stands at 0.18, which indicates an increased influx of capital. This can be further validated by the increased whale accumulations of BTC as per WhaleAlert reports.
However, for Bitcoin to stage a bull run, it should break resistance at $101,259. In the case of further price dips, it can be expected to fall to a support of $94,732. Meanwhile, Ethereum and Solana have also receded to short dips in the past few days.
