- With more than a 3% gain, Bitcoin is trading at $73,822, with a 72% high on daily trading volume.
- BTC liquidations reached $122 million in the last 24 hours, with the majority from short positions.
The crypto market opened the day on a positive note, with green candles across major assets over the past day. While Bitcoin continued its steady upward momentum, climbing above the $72,000 level and was trading around $73,822 range at the time of writing, with 3.32% up in the last 24 hours, nearly 10% up over a week, and 7.4% up over a month, which indicates steady bullish signs.
As the overall market recorded a 3.11% uptick, pushing the total market capitalization to $2.51 trillion, the Crypto Market sentiment also improved as the Crypto Fear and Greed Index moved from the fear zone into neutral zone
The CoinGlass data showed that the open interest in Bitcoin increased by 6.16% over the past 24 hours. At the same time, liquidation data indicates that around $122 million worth of positions were liquidated, with the majority coming from short positions totaling about $107 million.
While seeing the 4H chart, Bitcoin touched a high of $74,444 before pulling back. With that, a strong break above the $74,000 might see near-term gains toward $75,000 following the recent prolonged downturn. If the price manages to push beyond that level, the market could seriously begin to potential run toward $80,000.
On the downside, if the price action fails to close and hold above the $74,000 level may reinforce that Bitcoin remains range-bound, and the price might slide below and touches $72,000 or even $70,000.
Bitcoin Maintains Uptrend
While seeing the 4H chart of BTC/USD, the daily Relative Strength Index (RSI) at 72.62 signals a strong bullish condition. With buyers firmly in control, signaling that the market is entering overbought territory, which typically reflects strong momentum but may also hint at a possible short-term pullback .
The MACD line of Bitcoin is above the zero line, which shows bullish momentum, as it suggests that upward momentum is still in control, if buying pressure continues, Bitcoin could attempt to move toward higher price levels in the near term.
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Source: https://thenewscrypto.com/bitcoin-moves-toward-74k-as-crypto-market-sentiment-turns-neutral/
