Bitcoin (BTC), the largest cryptocurrency in the world by market capitalization, is still struggling to break through the resistance level of $70,000 despite several attempts in recent days. BTC is currently hovering around $67,584.44, up 0.77% in the last 24 hours. Its market cap stands at $1.34 trillion.
Bitcoin has decreased by 1.91% in the past week but has modestly increased by 2.49% in the last 30 days. According to CoinMarketCap data, this leading cryptocurrency is trading only 8.36% lower than its all-time high of $73,750. Since October 2023, BTC has surged by 98.15%.
As can be seen from the chart below, Bitcoin has tested the support level of $65,000-$66,000 multiple times in recent days and is now facing strong resistance at $70,000. Trading volume has decreased amid market volatility.
The Relative Strength Index (RSI) has a value of 58.85, which means that buyers are still in control of Bitcoin's price action. The slope of the line indicates that prices may decline in the short term.
What about XRP and SHIB?
XRP is currently trading at $0.5125, down 0.39% in the last 24 hours. This alternative coin has sharply declined by 6.51% in the past week and slipped 13.14% in the last 30 days. Since October 2023, XRP has decreased by 6.17%. Significant resistance remains at $0.65.
Shiba Inu (SHIB), the second-largest meme coin by market cap, has decreased by 0.48% in the last 24 hours and is now trading 80.86% lower than its all-time high of $0.00008845. SHIB has dropped 12.00% in the past week and 18.35% in the last 30 days. However, since October 2023, SHIB has seen a significant increase of 117.65%.