Bitcoin: Stable Above $45,000 Despite Market Redness – Latest Crypto Update

Bitcoin (BTC) is holding strong above $45,000. Since the explosive rise on January 1, the price has been in a new trading range, and it does not seem to want to move away from it yet. While the king of cryptocurrencies is at the same price as yesterday, the majority of the market is turning red. After reading this morning update, you will be fully informed of the current state of affairs on the crypto market.

Bitcoin price stable

Compared to 24 hours ago, the price of bitcoin is roughly at the same level. Yesterday through early afternoon, Bitcoin was mostly moving in the vicinity of $46,000. At its peak, the price was equal to $ 45,886.

From 3:15 PM, when the price was still around $ 45,800, a rapid decline started after which the price consolidated around $ 45,000 for a long time.

The bitcoin price of the past 24 hours. – Source: CoinMarketCap

Bitcoin has now settled into a new trading range between approximately $44,700 and $46,000. If Bitcoin continues its upward trend, there is a strong resistance level around $48,000 that could throw a spanner in the works.

Bitcoin dominance, or bitcoin’s share within the broader crypto market, has also made a big leap in recent days. Crypto analyst Benjamin Cowen said on social media platform X that dominance has risen from his so-called ‘bull market support band’.

#BTC dominance bouncing off its bull market support band. A lot of the money in altcoins is flowing back to BTC. pic.twitter.com/QTOk5H664b

— Benjamin Cowen (@intocryptoverse) January 2, 2024

At the time of writing, the BTC price on crypto exchange Bybit powered by SATOS is equal to $45,225. On the Dutch crypto exchange Bitvavo, the BTC price in euros amounts to 41,301.

Solana, Cardano and Dogecoin in red

Looking at the rest of the market, it can be seen that most major crypto coins are slightly down compared to 24 hours ago. Ethereum (ETH) is at about the same price, but solana (SOL) is down 3.24%, cardano (ADA) is down 1.46% and dogecoin (DOGE) is down 1.28%. Avalanche (AVAX) is the biggest loser within the top 10 with a decline of 3.58%.

There are also some minimal increases to be noted within the largest 10 crypto coins. Build ‘n build (BNB) is up 0.82% from 24 hours ago and ripple (XRP) is up 0.53%.

Bitvavo gives 20 euros of free crypto

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Let op: this is your last chance to receive a 20 euro welcome bonus. In a few days the bonus will go back to 10 euros.

Bitcoin Today: Key US Dates

Today several important dates from the United States are published. First of all, the ISM Manufacturing Purchasing Managers Index (PMI) for December will be announced at 4:00 PM. A value of 47.6 is expected, while last month it came in at 46.7.

At the same time it divides Bureau of Labor Statistics the JOLTs Vacancies of November. The expectation is 8.850 million vacancies, a slight increase compared to the 8.733 million a month earlier.

Finally, at 8:00 PM, the minutes of the most recent meeting of the Federal Open Market Committee (FOMC), the policymaking body of the US central bank.

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2024-01-03 07:05:43
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