Bitcoin

SATS

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-consolidates-between-58000-and-62000/" data-wpel-link="internal">Crypto Market Consolidates Between $58,000 and $62,000</a><br></p>
<p style="text-align: justify">While significant fluctuations continue in cryptocurrencies, the market appears to be consolidating between $58,000 and $62,000. Some analysts predict a drop to $54,000, while others foresee a rise to $64,000, potentially leading to a movement towards $70,000. Amidst all this, let’s take a look at the general state of cryptocurrencies, Bitcoin, and an altcoin that has declined after days of rising.</p> 
<h2 style="text-align: justify" id="current-state-of-cryptocurrencies">Current State of Cryptocurrencies</h2> 
<p style="text-align: justify">The total value of the <a href="https://en.coin-turk.com/crypto-market-suffers-over-half-billion-dollar-loss-due-to-cybercrimes-beosin-reports/" data-wpel-link="internal">cryptocurrency market</a> today is consolidating between $2.11 trillion and $2 trillion. Both ranges have been tested as resistance and support in the past, making them stronger.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380427" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-total-1-coin-turk-com.png" alt="" width="487" height="210"></p> 
<p style="text-align: justify">Due to the prevailing bearish sentiment, a return from the $2 trillion level is considered more likely than from $2.11 trillion. Recent sales and uncertainty due to US CPI <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> suggest that the ongoing downtrend might hinder the expected rise.</p> 
<p style="text-align: justify">More importantly, if the support level at $2 trillion is lost, a decline to $1.88 trillion could occur, putting investors in a tougher spot.</p> 
<h2 style="text-align: justify" id="bitcoin-price">Bitcoin Price</h2> 
<p style="text-align: justify"><strong>Bitcoin’s</strong> price moved above $60,000 after a 4% increase in recent days, creating a sense of continued rise. However, BTC fell below $58,000 yesterday, indicating a failed rebound.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380428" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-sats-coin-turk-com.png" alt="" width="489" height="211"></p> 
<p style="text-align: justify">As of the time of writing, BTC was at $58,400 after a 0.64% rise. Despite this rise, BTC needs to reclaim its previous support level of $63,000 and then move towards $65,000 to compensate for recent losses. If the decline continues, BTC could drop to $54,500.</p> 
<h2 style="text-align: justify" id="sats-declines">SATS Declines</h2> 
<p style="text-align: justify">SATS, which made headlines with its rise in recent days and an impressive 18% increase in the last 7 days, saw a 12% decline within 48 hours, bringing the altcoin to $0.0002906. After this price drop, the crypto asset remained below the next critical resistance level of $0.000349.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-380429" src="https://coin-turk.com/wp-content/uploads/2024/08/sats-coin-turk-com.png" alt="" width="497" height="213"></p> 
<p style="text-align: justify">Following this price movement, a scenario where the altcoin could drop to $0.000253 exists, potentially causing SATS investors to lose some of their recent gains. Although a rise seems difficult amidst current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a>, if successful, SATS could exceed $0.000349, eliminating the bearish outlook.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-market-consolidates-between-58000-and-62000/" data-wpel-link="internal">Crypto Market Consolidates Between $58,000 and $62,000</a></h5>
<p>The post <a href="https://en.coin-turk.com/crypto-market-consolidates-between-58000-and-62000/" data-wpel-link="internal">Crypto Market Consolidates Between $58,000 and $62,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Crypto Market Consolidates Between $58,000 and $62,000

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