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BTC course moves within its consolidation channel, while the victory of XRP against the SEC improves the market mood
BTC course remains within the upper limitation of the consolidation channel yesterday's day was characterized by great volatility on the cryptocurrency market. The judgment in the XRP case against the SEC has been the most important event for cryptocurrencies for years. The improved mood led to course gains for almost all cryptocurrencies. Following the trend, the Bitcoin course increased over $ 31,000 and began to consolidate itself in the upper area of his consolidation channel. In the past few weeks, BTC has been traded between $ 30,000 and $ 31,200. During this time there was various information on the market, including the initial rejection of ETF applications by the SEC, their re-submission by fund ...
BTC course moves within its consolidation channel, while the victory of XRP against the SEC improves the market mood
BTC course remains within the upper limitation of the consolidation channel
Yesterday's day was characterized by great volatility on the cryptocurrency market. The judgment in the XRP case against the SEC has been the most important event for cryptocurrencies for years. The improved mood led to course gains for almost all cryptocurrencies.
Following the trend, the Bitcoin course increased over $ 31,000 and began to consolidate itself in the upper area of his consolidation channel. In the past few weeks, BTC has been traded between $ 30,000 and $ 31,200. During this time there was various information on the market, including the initial rejection of ETF applications by the SEC, their new submission by fund and yesterday's victory of XRP. Despite these developments, Bitcoin has not managed to break out of this area. However, this level has a certain importance, since BTC reacted to this level in Hausse 2021 and the Baisse 2022.Although yesterday's closing price of $ 31,400 is the highest this year and giving hope for a continuation of this movement, today's session will be decisive. Bitcoin has to close over $ 31,400 so as not to return to the consolidation zone. In the event of a breakthrough upwards, the price could exceed the $ 32,000 mark and even achieve $ 35,000.
It remains to be seen how the market will develop in the coming days and whether Bitcoin will be able to leave the consolidation area. The positive mood after the victory of XRP against the SEC could continue and influence the cryptom market as a whole. Investors should observe the current developments closely because they can bring potential opportunities and risks for the Bitcoin course.