🚀🌟Bitcoin Halving Event Completed: Here’s What To Expect Next For Crypto Market.✨🥳

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With the Bitcoin price making a strong intraday comeback, the Bitcoin Halving brings a bullish relief. However, the broader market sentiment shows minimal changes as the market remains under bearish influence.

After the successful Bitcoin Halving this past Friday, the blockchain reached a total of 840,000 blocks. The halving event also reduced the mining reward to 3.125 Bitcoin per block. Known for triggering bull markets, this fourth halving occurs at a challenging time for global markets.

With bulls failing to turn the dream of Bitcoin reaching $100,000 into reality, the BTC price remains at the $63,000 levels. Under such conditions, the altcoins are reflecting a minor shift in the underlying conditions.

Further, with the talks of Ethereum ETF witnessing a minor surge amidst boosting the sentiments, the bulls are preparing for another moonshot. So, let’s have a closer look at the crypto market to find out more about the upcoming trend.

Bitcoin Price Performance🌟

Trading below the average line of 50D EMA, Bitcoin struggles to sustain dominance at the $60,000 level. As it trades at $63,817, the sharp comeback overnight comes with the Bitcoin Halving.

As it bounces from $60,000 or the 38.20% Fibonacci level, the BTC price struggles to surpass the 23.60% Fib level at $65,000. Further, the dynamic resistance of the 50D EMA is another resistance at play.

With $278 Million in liquidation on Bitcoin Halving day, the volatile move leads to pain on either side of the market, per Coinglass. Meanwhile, despite the drop to $63,000, 83% of HODLers are at profit at the current market price, with 69% of HODLers older than a year, per intotheblock.#BinanceLaunchpool #bitcoinhalving #Megadrop