Bitcoin bulls are doing their best to maintain the important psychological level of $30K. This happens on the back of broader consolidation across the market as most of the altcoins have been trading flat over the past 24 hours.
The price of bitcoin is $30K. made of
Yesterday, bitcoin price briefly dipped below $30K, but the bulls were too quick to defend the level and brought it higher in a few hours, as seen in the chart below:
At the time of writing, the cryptocurrency is charting a daily increase of around $1.8%. According to data from Coinglass, the market seems to have calmed down a bit today, but liquidations remain relatively high at over $200 million over the past 24 hours.
Bitcoin is the leader with around $133 million worth of liquidation positions. The largest single liquidation order occurred on Bybit – a BTC/USD order with a face value of $3 million.
Altcoins in Consolidation Mode
Colored almost entirely in green, the altcoin market appears to be in a consolidation mode. With a few minor exceptions, most large-cap cryptocurrencies have remained flat over the past 24 hours.
As seen in the above heatmap, the altcoin market failed to generate any meaningful gains, but on the other hand – it also stopped bleeding, which can be interpreted as a good sign.
Nevertheless, the Crypto Fear and Greed Index declined again by 10 basis points, indicating “extreme fear” after rebounding slightly over the past few days.
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Cryptocurrency charts by TradingView.
