The post Bitcoin Pauses at $67.8K Before Resuming Price Rally Post Brief Dip appeared on BitcoinEthereumNews.com.

Bitcoin price has factored in a modest price increase of 0.72% in the last 24 hours.  The cryptocurrency’s daily trading volume has dropped by 12.28% as per CMC data. The digital assets sector encountered a shocking incident, as a US government-related crypto wallet was compromised. The attack led to a loss of $20 million worth of funds in the form of USDT, USDC, aUSDC, and ETH tokens. Meanwhile, on turning to the prices table, Bitcoin has resurfaced at $67K, much to the relief of community members.  In the last 24 hours, the largest cryptocurrency has exhibited a modest gain of 0.72% rising to the $67K level. At the beginning of the day, Bitcoin managed to surpass $67,000 after its recent dip to the $66K support. However, as the day progressed, BTC surged to hit an intraday high of $68,693. At the time of writing, Bitcoin was trading at $67,826 as per CMC data.  Incidentally, Bitcoin’s brief price dip began its action on October 22, when the token slid from $68,000 to current trading levels. In the following days, the bears continued to overpower, as prices slid further to a weekly low of $65,260 on October 24. However, in the last few hours, Bitcoin has reverted from this trend.  However, when inferring the cryptocurrency’s weekly chart, owing to the recent price dip it shows a mild price decrease of 0.24%. Notably, in the middle of this week, Bitcoin tested the $69K level on October 21, hitting a weekly high of $69,519.  Will Bitcoin Bulls Take Back Control?  On inferring Bitcoin’s technical indicators certain analyses can be drawn. Firstly, the cryptocurrency has been experiencing increased volatility as indicated by the RVI standing at 53.03. Secondly, Bitcoin’s bull power value stands at 0.96 while its bear power value stands at -1.04.  In order…

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Filed under: News - @ October 25, 2024 9:24 am