Bitcoin
Bitcoin (BTC)
$63,875.00 -0.47208
Bitcoin price
Ethereum
Ethereum (ETH)
$3,417.50 0.45725
Ethereum price
BNB
BNB (BNB)
$570.41 0.04296
BNB price
Solana
Solana (SOL)
$158.05 1.57767
Solana price
XRP
XRP (XRP)
$0.5659590 -9.1914
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -7.72953
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 -3.10319
Pepe price
Bonk
Bonk (BONK)
$0.0000263 -2.20563
Bonk price
Bitcoin
Bitcoin (BTC)
$63,875.00 -0.47208
Bitcoin price
Ethereum
Ethereum (ETH)
$3,417.50 0.45725
Ethereum price
BNB
BNB (BNB)
$570.41 0.04296
BNB price
Solana
Solana (SOL)
$158.05 1.57767
Solana price
XRP
XRP (XRP)
$0.5659590 -9.1914
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -7.72953
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 -3.10319
Pepe price
Bonk
Bonk (BONK)
$0.0000263 -2.20563
Bonk price
Bitcoin
Bitcoin (BTC)
$63,875.00 -0.47208
Bitcoin price
Ethereum
Ethereum (ETH)
$3,417.50 0.45725
Ethereum price
BNB
BNB (BNB)
$570.41 0.04296
BNB price
Solana
Solana (SOL)
$158.05 1.57767
Solana price
XRP
XRP (XRP)
$0.5659590 -9.1914
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -7.72953
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 -3.10319
Pepe price
Bonk
Bonk (BONK)
$0.0000263 -2.20563
Bonk price
Bitcoin
Bitcoin (BTC)
$63,875.00 -0.47208
Bitcoin price
Ethereum
Ethereum (ETH)
$3,417.50 0.45725
Ethereum price
BNB
BNB (BNB)
$570.41 0.04296
BNB price
Solana
Solana (SOL)
$158.05 1.57767
Solana price
XRP
XRP (XRP)
$0.5659590 -9.1914
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 -7.72953
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 -3.10319
Pepe price
Bonk
Bonk (BONK)
$0.0000263 -2.20563
Bonk price

Bitcoin holds steady above $30,000 as selling pressure intensifies

bitcoin-holds-steady-above-30000-as-selling-pressure-intensifies
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Markets
Bitcoin holds steady above $30,000 as selling pressure intensifies

Bitcoin (BTC) has remained above $30,000 for the past month despite market indicators suggesting weakness. All that while, miners have been trying to liquidate their holdings.

The broader cryptocurrency market gained $70 billion in less than five hours after a US judge ruled in favor of Ripple and XRP on July 13. The Bitcoin price rose to $30,800 on July 13 but fell below $30,000 twice in the past week, dropping to as low as $29,685 on July 17.

Data from CryptoQuant suggests that the consolidation at around $30,000 may be due to mixed factors, including short-term holders (STHs), miners, and volatility.

Since April, the supply of STHs has gradually decreased, with sudden hikes at some bullish points. Overall, they have been selling less, which could significantly decrease bitcoin’s selling pressure.

Meanwhile, miners have been actively selling their diggings as the next halving event gets closer, estimated to take place in April 2024.
Amid this development, Bitcoin’s volatility has been falling over the past four months while the number of Bitcoin exchange deposits fell to a one-month low, according to data provided by Glassnode.

https://twitter.com/glassnodealerts/status/1681050019707641857

At the time of writing, Bitcoin is trading at $30,020, down by 0.8% over the past 24 hours. However, its 24-hour trading volume has increased by almost 70%, reaching $13.84 billion, while the market cap remains below $584 billion.

Bitcoin holds steady above $30,000 as selling pressure intensifies - 1
BTC price – July 18 | Source: Trading View

The increase in Bitcoin’s trading activity may indicate a temporary price surge. A report from July 17 suggests that the rise of long-term BTC holders could support prices in future sessions.