Convergence

bullish

Bitcoin

<ul>
 <li>The coin faces obstacles at $64K as instability continues.</li>  
 <li>Fibonacci levels suggest a potential consolidation phase.</li>  
 <li>The RSI and MACD indicate mixed market momentum ahead.</li> 
</ul>  
Bitcoin is currently trading at close by $64,002.12, having a slight increase of 0.04% over the past 24 hours, as per the data from CoinMarketCap. The crypto&nbsp; market cap stands at $1.26 trillion, which maintains its position as the dominant player in the market. With a previous trading volume of $21.31 B, the coin has seen a 6.89% rise in trading activity, which has led to a volume/market cap ratio of 1.68%.  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdvbkQjYmo54NAP3Ws2A2IaLuCKpTEJkwCXwN2mwfPZ1gQRPS3S2NXhvSnIzASsRX0ib8Fv8qE6IdtrpQGdgR1Ynw10HxpiezdoXK7bxc34-zMtpLSqVlEUauY5IlC7zVL6_4AfkqL21z_R7zMBlH-5T_8?key=TfGagRx_ePhRwaNTYHEwfQ" alt="">
</figure>  
Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">coinmarketcap</a>  
The circulating supply of the token is&nbsp; at 19.75 million BTC, that represents 94.03% of its total supply cap of 21 million BTC. The fully diluted market cap, which considers the maximum availability, is projected at $1.34 trillion.  
&nbsp;The token has a peak of around $64,750 before dipping slightly with the present shift in the <a href="https://cryptonewsland.com/kennedys-strategic-4-million-bitcoin-btc/" target="_blank" rel="noopener noreferrer nofollow">economy</a>. Analysts continue to monitor these price movements closely, with many assessing the potential for either a withdrawal above resistance levels or a possible retracement.  
Bitcoin's dominance in the crypto space remains strong, currently standing at 56.2%, while ETH holds 14.7% of the economic share. The broader market has also seen a s dip, with the total market cap decreasing by 0.15% to $2.24T. The intraday volume across all crypto is reported at $52.96 B, marking a 9.56% decline.  
<h2 class="wp-block-heading" id="h-bitcoin-price-action">Bitcoin Price Action</h2>  
&nbsp;BTC is participating in a challenging period as it lingers around $63,883, reflecting a slight decline of 0.57% over the past day, according to the latest TradingView data. The coin continues to exhibit Instability, with BTC facing&nbsp; resistance near the $64,000 level.  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfJOCH7OE3gdSwZx_UCu7BR5xcoByhnzRdhX0VmRFN-7mTNDpBlh_4iz5M8V4pnHNnlmdd3m6XUPfC14cZPRQI4A0XKVViICn8Nsu8VNc8D99jMDUyHKHa9Dp2x5s_IKTv67Rkizg6uwiIX1EEVOygWIfi4?key=TfGagRx_ePhRwaNTYHEwfQ" alt="">
</figure>  
Source: <a href="https://www.tradingview.com/chart/YP9EFueQ/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a>  
The price intervention shows that Bitcoin attempted to break through critical resistance levels but faced rejection, which has led to some retracement. The key Fibonacci levels of 23.6%, 38.2%, 50.0%, and 61.8% are evident on the chart, providing crucial support and resistance zones. The price is currently trading between the 78.6% and 100% retracement levels, implying that an integration phase might be underway.  
The Relative Strength Index&nbsp; is at 57.59, indicating that <a href="https://cryptonewsland.com/bitcoin-surpasses-support-analyst-predicts-gains/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>is in neutral territory. The indicator has seen a gradual increase from its previous low of 49.91, signalling a shift towards bullish momentum. However, the RSI has not yet crossed into overbought territory, leaving room for further price action in either direction.  
The Moving Average Convergence Divergence&nbsp; indicator shows a recent bullish overlap, with the its line (756) crossing above the signal line (475). This could result in a likely change in the coin's trajectory in the future. 
The post <a href="https://cryptonewsland.com/bitcoin-hovers-around-64k-as-market-volatility-persists/" rel="noopener noreferrer nofollow">Bitcoin Hovers Around $64K as Market Volatility Persists</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Bitcoin Hovers Around $64K as Market Volatility Persists

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