The bitcoin price has taken a positive turn in the crypto market. Many popular crypto coins went up, such as Bitcoin (BTC) by 4.15%, Ethereum (ETH) by 4.75%, Solana (SOL) by 17.83%, and many others, which gave relief to crypto holders.
The price of Bitcoin has diminished over the last eight days and has taken a turn for the worst in the past five days. It has lost its value by 23.47%. Bitcoin touched its lowest level since December 2020, on June 13, 2022.
Many alternative coins have lost their market cap and are performing poorly.
“BTC’s current support lies at $27,000, while the initial resistance holds at the $33,000 level. We may see BTC crossing $31,000 in the coming days as momentum improves over the past day,” said Edul Patel, CEO, and Co-founder of crypto investment platform Mudrex.