Bitcoin (BTC), the world's largest cryptocurrency by market value, has been struggling to break through the $70,000 resistance level despite multiple attempts in the past few days. Currently, the price of BTC is hovering around $67,584.44, up 0.77% in the past 24 hours, and its market value has reached $1.34 trillion.
Bitcoin is down 1.91% over the past week, though it has gained slightly over the past 30 days, up 2.49%. The leading cryptocurrency is trading just 8.36% below its all-time high of $73,750, according to CoinMarketCap. Since October 2023, BTC has surged 98.15%.
As can be seen from the figure below, Bitcoin has tested the $65,000-66,000 support level several times in recent days and is currently facing strong resistance at $70,000. Market uncertainty has led to a decline in trading volume.
The Relative Strength Index (RSI) is reading 58.85, which means that…
The article is for reference only and does not constitute investment advice.
