Token

Bitcoin

<ul> 
 <li><strong>The price is continuing a downward trend that began when it faced resistance at $27,420.</strong></li> 
 <li><strong>A little wave of recovery has pushed prices back over the $26,200 level.</strong></li> 
</ul> 
<p>The recent announcement by Citibank to provide blockchain technology for institutional deposits, convertible into “Citibank tokens” for round the clock cross-border transactions, is a major step forward in the evolution of the financial industry.</p> 
<p><a href="https://thenewscrypto.com/bitcoin-news-robert-kiyosaki-predicts-bitcoin-to-reach-120000-by-2024-end/" target="_blank" rel="noopener noreferrer nofollow">Robert Kiyosaki</a>, an investor and author, tweeted that Citibank’s recent engagement might mark a turning point for Bitcoin and the USD. On September 18th, Citi stated that its Treasury and Trade Solutions (TTS) division will begin testing out Citi Token Services, a new venture that would use blockchain and smart contract technology.</p> 
<h3 class="wp-block-heading" id="h-struggle-continues">Struggle Continues</h3> 
<p>At the time of writing, <a href="https://thenewscrypto.com/bitwise-revises-bitcoin-exchange-traded-fund-etf-filing/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is trading at $26,273, up 0.42% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 2.88%. The Bitcoin price is continuing a downward trend that began when it faced resistance at $27,420. The price found support at $26,000 level yesterday, after recently breaking the $26,430 support level.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/09/BTC_7D_graph_coinmarketcap-7.png" alt="" class="wp-image-82934" srcset="https://thenewscrypto.com/wp-content/uploads/2023/09/BTC_7D_graph_coinmarketcap-7.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/09/BTC_7D_graph_coinmarketcap-7-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/09/BTC_7D_graph_coinmarketcap-7-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px"> 
  <figcaption class="wp-element-caption">
    Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Recently, there has been a little wave of recovery that has pushed prices back over the $26,200 level. If the price manages to break above the $26,700 resistance level then it will likely rally towards the $27,450 mark. Moreover, if the bulls could drive the price above this resistance level then it will likely test the $28,000 mark.</p> 
<p>However, there are a number of upcoming resistance levels and shrinking support levels, suggesting that the present price dynamics of Bitcoin are negative. If the price breaks below $26,000 support level then it will be likely heading towards the $25,450 mark. If the cryptocurrency keeps falling, it may possibly test the $25,000 level, marking a new short-term low.</p>

Bitcoin Price Witnesses Short Recovery Amid Severe Downtrend

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TheNewsCrypto

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