{"id":520850,"date":"2023-02-24T11:15:25","date_gmt":"2023-02-24T11:15:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=520850"},"modified":"2023-02-24T11:21:12","modified_gmt":"2023-02-24T11:21:12","slug":"bitcoin-price-tries-to-reclaim-24k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-tries-to-reclaim-24k\/","title":{"rendered":"Bitcoin Price Tries To Reclaim $24,000 As Crypto Market Trades Sideways"},"content":{"rendered":"<p>Despite what looked to be synchronized warnings from global regulators on the risks that crypto-assets represent to the world&#8217;s financial system, Bitcoin price continued to trade near support at $24,000, making for a relatively quiet day in the cryptocurrency market.<\/p>\n<p>After beginning 2023 below $16,600, <a href=\"https:\/\/www.independent.co.uk\/tech\/bitcoin-price-latest-china-crypto-b2288046.html\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin<\/a> returned to levels not seen since August with a brief visit above $25,000. More than $100 billion has been added to the market capitalization of all cryptocurrencies in the past several days.<\/p>\n<p>According to TradingView&#8217;s data, Bitcoin&#8217;s price began rising late on Wednesday and peaked above $24,600 during Thursday&#8217;s early trading hours before tumbling to a daily low of $23,630 and only recovering near the main support level located at $24,000.<\/p>\n<h2><strong>Bitcoin Price Trading Sideways<\/strong><\/h2>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-520867 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?resize=1242%2C63\" alt=\"\" width=\"1242\" height=\"63\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=1242 1242w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-47.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, Bitcoin has risen 0.5% in value over the past week, and is currently <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">trading at $23,891<\/a>, data from Coingecko shows. The most popular coin dropped 2% in the past day.<\/p>\n<p>According to analysts, the decline in Bitcoin had minimal effect on the values of March Bitcoin futures. The slight retreat in price this week was not entirely negative, and that bulls still had the near-term technical advantage because of the established uptrend on the daily chart.<\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/blur-token-rallies-67\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">BLUR Token Clears The Path With 67% Rally In Single Week<\/a><\/div>\n<\/div>\n<p>Bitcoin futures are contracts that allow traders to speculate on the future price of Bitcoin. March Bitcoin futures specifically refer to Bitcoin futures contracts that expire in the month of March.<\/p>\n<p>Bitcoin sideways price action, or consolidation, refers to a period of time when the price of Bitcoin trades within a relatively narrow range, with little upward or downward movement.<\/p>\n<pre style=\"text-align: center\">  <img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-520904 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-49.png?resize=460%2C256\" alt=\"\" width=\"460\" height=\"256\">Image: Protocol<\/pre>\n<h2><strong>Bitcoin Bulls Aim For $24,500<\/strong><\/h2>\n<p>During consolidation, there is typically low trading volume and a lack of clear direction in the market. Consolidation can occur after a period of volatility or a significant price move, as traders and investors take a pause to reassess the market and decide on their next moves.<\/p>\n<p>Consolidation can be seen as a period of uncertainty, but it can also provide an opportunity for traders to accumulate or sell Bitcoin at relatively stable prices before the next price move.<\/p>\n<p>Bitcoin (BTC) is currently trading between the 21-day exponential moving average (EMA) and the 50-day EMA, providing further context for Bitcoin&#8217;s sideways price action.<\/p>\n<p>Conversely, Bitcoin bulls must push the price above $24,500 to secure a $480 million profit opportunity. Nevertheless, the bears&#8217; best case scenario calls for a 3.5% price plunge below $23,000.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/LvLxEtIh\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">Crypto total market cap at $1 trillion on the daily chart | Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/stablecoin\/stablecoins-continue-to-slump\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Stablecoins Market Cap Continues To Slump \u2013 Here\u2019s Why<\/a><\/div>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">GDP came in lower than expected, but still massively positive at 2.7%.<\/p>\n<p>The recession is avoided, for now.<\/p>\n<p>That&#8217;s a great sign for continuation on the markets.<\/p>\n<p>Bring <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> to $30K.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/60269312?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 23, 2023<\/a><\/p><\/blockquote>\n<h3><strong>$30K Next Target For BTC?<\/strong><\/h3>\n<p>Meanwhile, the bears have a decent chance of improving their condition despite the negative pressure from the US central bank&#8217;s push to combat soaring inflation.<\/p>\n<p>And, for Eight Global&#8217;s founder, Michal van de Poppe, today&#8217;s GDP print means a recession has been avoided for the time being and that $30,000 is the next target for Bitcoin.<\/p>\n<p><em>-Featured image from Reuters<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite what looked to be synchronized warnings from global regulators on the risks that crypto-assets represent to the world&#8217;s financial system, Bitcoin price continued to trade near support at $24,000, making for a relatively quiet day in the cryptocurrency market. After beginning 2023 below $16,600, Bitcoin returned to levels not seen since August with a brief visit above $25,000. More than $100 billion has been added to the market capitalization of all cryptocurrencies in the past several days. According to TradingView&#8217;s data, Bitcoin&#8217;s price began rising late on Wednesday and peaked above $24,600 during Thursday&#8217;s early trading hours before tumbling to a daily low of $23,630 and only recovering near the main support level located at $24,000. Bitcoin Price Trading Sideways At the time of writing, Bitcoin has risen 0.5% in value over the past week, and is currently trading at $23,891, data from Coingecko shows. The most popular coin dropped 2% in the past day. According to analysts, the decline in Bitcoin had minimal effect on the values of March Bitcoin futures. The slight retreat in price this week was not entirely negative, and that bulls still had the near-term technical advantage because of the established uptrend on the daily chart. Related Reading: BLUR Token Clears The Path With 67% Rally In Single Week Bitcoin futures are contracts that allow traders to speculate on the future price of Bitcoin. March Bitcoin futures specifically refer to Bitcoin futures contracts that expire in the month of March. Bitcoin sideways price action, or consolidation, refers to a period of time when the price of Bitcoin trades within a relatively narrow range, with little upward or downward movement. Image: Protocol Bitcoin Bulls Aim For $24,500 During consolidation, there is typically low trading volume and a lack of clear direction in the market. Consolidation can occur after a period of volatility or a significant price move, as traders and investors take a pause to reassess the market and decide on their next moves. Consolidation can be seen as a period of uncertainty, but it can also provide an opportunity for traders to accumulate or sell Bitcoin at relatively stable prices before the next price move. Bitcoin (BTC) is currently trading between the 21-day exponential moving average (EMA) and the 50-day EMA, providing further context for Bitcoin&#8217;s sideways price action. Conversely, Bitcoin bulls must push the price above $24,500 to secure a $480 million profit opportunity. Nevertheless, the bears&#8217; best case scenario calls for a 3.5% price plunge below $23,000. Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com Related Reading: Stablecoins Market Cap Continues To Slump \u2013 Here\u2019s Why GDP came in lower than expected, but still massively positive at 2.7%. The recession is avoided, for now. That&#8217;s a great sign for continuation on the markets. Bring #Bitcoin to $30K. \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) February 23, 2023 $30K Next Target For BTC? Meanwhile, the bears have a decent chance of improving their condition despite the negative pressure from the US central bank&#8217;s push to combat soaring inflation. And, for Eight Global&#8217;s founder, Michal van de Poppe, today&#8217;s GDP print means a recession has been avoided for the time being and that $30,000 is the next target for Bitcoin. -Featured image from Reuters<\/p>\n","protected":false},"author":557,"featured_media":520905,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,87905,6664],"class_list":["post-520850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-consolidate","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Tries To Reclaim $24K As Market Trades Sideways<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) continued to trade near support at $24,000, making for a relatively quiet day in the cryptocurrency market.\" 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Tries To Reclaim $24,000 As Crypto Market Trades Sideways","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-tries-to-reclaim-24k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-tries-to-reclaim-24k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-50.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-50.png?fit=949%2C656"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","consolidate","crypto"],"dateCreated":"2023-02-24T11:15:25Z","datePublished":"2023-02-24T11:15:25Z","dateModified":"2023-02-24T11:21:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Tries To Reclaim $24,000 As Crypto Market Trades Sideways\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-tries-to-reclaim-24k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-tries-to-reclaim-24k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-50.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-50.png?fit=949%2C656\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"consolidate\",\"crypto\"],\"dateCreated\":\"2023-02-24T11:15:25Z\",\"datePublished\":\"2023-02-24T11:15:25Z\",\"dateModified\":\"2023-02-24T11:21:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/a-50.png?fit=949%2C656","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520850"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=520850"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/520850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/520905"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=520850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=520850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=520850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}