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Home » Bitcoin (BTC) Price Analysis – Daily Updates

Bitcoin (BTC) Price Analysis – Daily Updates


Last Price
$97,024
Daily High
$97,723
Daily Low
$94,766

Chart Analysis
Bitcoin Price Analysis: BTC Risks Falling to $81K if it Breaks Below This Support Level

Bitcoin Price Analysis: BTC Risks Falling to $81K if it Breaks Below This Support Level

Dec 31, 2024 11:51

Bitcoin is struggling with the midline of its prolonged ascending channel around the $92K mark, teetering on the edge of a potential breakdown. Despite this, the


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How to read Bitcoin charts?
Bitcoin charts usually present the progress of the price using Japanese candlesticks. Each candle represents a specific time-frame (depends on the chart) and is showing the open, close, and price range during that time-frame. On top of that, the chart usually contains a variety of technical analysis indicators. The most popular are support and resistance levels, trend-lines, Relative Strength Index (RSI), Fibonacci retracement levels.
What affects the price of Bitcoin?
Just like any other traded asset, the Bitcoin price is affected by supply and demand, as simple as that. However, the occurrence of certain global fundamental events could have a relation to the value of Bitcoin: During the year of 2016, for example, India's banknote demonetization had a positive effect on Bitcoin. In India, the price of the cryptocurrency was trading 20% higher than the rest of the world. If we go to recent years, the 2019 bull-run could be related to Facebook announcing on the Libra project. The bull-run started losing momentum as news regarding Libra's regulation's hardness started popping on the news. Besides the major global events, there are some Bitcoin heavy-bag holders, which are also known as Bitcoin Whales. They are holding thousands of BTC's, and that is enough to create large enough daily price maneuvers.
Bitcoin Price News
  • Interesting Bitcoin (BTC) Predictions for 2025

    Interesting Bitcoin (BTC) Predictions for 2025

    Jan 2, 2025
  • US Investor Seller Pressure Drags Bitcoin Coinbase Premium Index to 12-Month Low: CryptoQuant

    US Investor Seller Pressure Drags Bitcoin Coinbase Premium Index to 12-Month Low: CryptoQuant

    Jan 2, 2025
  • These Price Levels Hold the Key to Bitcoin’s Resilience or Deeper Correction (Glassnode)

    These Price Levels Hold the Key to Bitcoin’s Resilience or Deeper Correction (Glassnode)

    Jan 2, 2025
  • SCER Proposes Bitcoin Adoption in Post-War Syria to Attract Global Investment

    SCER Proposes Bitcoin Adoption in Post-War Syria to Attract Global Investment

    Jan 1, 2025
  • Binance’s $31B Stablecoin Reserves Signal Strong Market Confidence Despite Bitcoin’s Lull

    Binance’s $31B Stablecoin Reserves Signal Strong Market Confidence Despite Bitcoin’s Lull

    Jan 1, 2025
  • Investors Are Moving Their BTC Away From Exchanges, What Does This Mean?

    Investors Are Moving Their BTC Away From Exchanges, What Does This Mean?

    Dec 31, 2024
  • Bitcoin Price Analysis: BTC Risks Falling to $81K if it Breaks Below This Support Level

    Bitcoin Price Analysis: BTC Risks Falling to $81K if it Breaks Below This Support Level

    Dec 31, 2024
  • Bullish Bitcoin Forecasts, Shiba Inu Upcoming Projects, and More: Bits Recap Dec 31

    Bullish Bitcoin Forecasts, Shiba Inu Upcoming Projects, and More: Bits Recap Dec 31

    Dec 31, 2024
  • ETH Outpaces BTC in Long-Term Holder Retention Throughout 2024: ITB

    ETH Outpaces BTC in Long-Term Holder Retention Throughout 2024: ITB

    Dec 30, 2024
  • BTC Price Dumps to Monthly Lows as Weird MicroStrategy Trend Extends

    BTC Price Dumps to Monthly Lows as Weird MicroStrategy Trend Extends

    Dec 30, 2024
Previous Updates
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