The day started with Bitcoin trading at around $7,327. The price dropped quickly to around $7,270 moments later, followed by upward movement as the Bitcoin price climbed steadily to $7,426. Bitcoin dropped to $7,237 hours later.
An upward trend started again as the Bitcoin price reached a peak of $7,491. It dropped to $7,327 afterward, and the downward trend continued as Bitcoin moved down to $7,281. The Bitcoin price moved up hours later to $7,377, hitting a peak of $7,426 moments later. Today ended with Bitcoin trading at $7,427.
Many Bitcoin investors were uncertain about the next market move at the beginning of the day. The Bitcoin price moved up to around $7,800 and dropped quickly to around $7,200 within few hours yesterday. The major news that was expected to make a positive impact today is Bakkt’s CEO, Loeffler, being appointed as a senator in the US.
BTC/USD 24-hour chart provided by Trading View
There were two major price reversals today. First was when the Bitcoin price dropped from $7,491 to $7,377 after a long period of upward movement. The second reversal happened when it moved up from $7,280 to $7,377 after a long period of downward movement.
The major news about Bitcoin today is that about $9 billion worth of Bitcoins were moved on-chain within an hour. This news made no major impact today and it is not expected to do so tomorrow. We expect Bitcoin to trade at around $7,500 by tomorrow.
Market trend: Bullish
High (24H): $7,491
Low (24H): $7,270
Market cap: $ 134,921,860,513 (data provided by Coinmarketcap)
Volume (24H): $ 18,817,378,965 (data provided by Coinmarketcap)
Today started with Ethereum trading at around 0.019635 BTC. This period was followed by a steady increase in price to 0.021822 BTC. The price dropped steadily to 0.019635 BTC moments later. Today ended with Ethereum trading at 0.20411 BTC.
ETH/BTC 24-hour chart provided by Kucoin
High (24H): 0.021822BTC (data provided by Kucoin)
Low (24H): 0.019000 BTC (data provided by Kucoin)
Today started with Ripple trading at around 0.00003412 BTC. The price dropped steadily to 0.00002316 BTC. A long period of almost-linear price movement ended with XRP trading at 0.00002366 BTC. Today ended with Ripple trading at 0.000030001 BTC.
XRP/BTC 24-hour chart provided by Kucoin
High (24H): 0.00003362 BTC (data provided by Kucoin)
Low (24H): 0.00002366 BTC (data provided by Kucoin)