Bitcoin fluctuates between $22.5,000 and $24.7,000 as it holds above $22.5,000 – July 31, 2022
Following the recent decline, BTC/USD has reached bearish exhaustion as it holds above $22.5000. Nevertheless, due to the presence of indecisive small-body candlesticks, Bitcoin is likely to resume limited movement between $22,500 and $24,735.
Bitcoin price statistics:
• Current bitcoin price: $22,887.38
• Bitcoin market cap: $437,399,205,992
• Bitcoin Circulating Supply – 19,110,837.00 BTC
• Total bitcoin supply: $480,634,901,670
• Coinmarketcap Bitcoin Ranking – #1
Resistance levels: $50,000, $55,000, $60,000
Support Levels: $25,000, $20,000, $15,000
Bitcoin is making an upward correction as it hits its previous highs. On the upside, if the bulls break the resistance at $23,160, the price of BTC will rise to revisit the broad resistance at $24,000. Perhaps if the overhead resistance is breached, Bitcoin will hit a high of $28,000. On the other hand, the selling pressure will resume if the bears break below the $22,500 support. Bitcoin will drop to the psychological price level of 20,000.
$200M Botget BTC-USDT Protection Fund in Extended Bear Market
Crypto derivatives exchange Bitget has launched a $200 million fund to safeguard user assets. Bitget joins the growing list of crypto companies, like Binance, that have taken an investor-centric approach to earning investor trust through protection funds. Bitget is a combination of a stablecoin and bitcoin in the protection fund to oppose massive unforeseen volatility in the crypto markets. .
The Bitget Protection Fund consists of 6,000 Bitcoin (BTC) and 80 million Tether (USDT), worth $200 million. Crypto exchange Bitget has promised to secure the value of the fund for the next three years. According to Gracy Chen, Managing Director of Bitget, added, “The protection fund will help us ease investor concerns and attract potential users. As we continue to endure the crypto winter, it is crucial that our users can rest assured that their funds are safe.
Meanwhile, the price of BTC has continued to fluctuate between $22,500 and $24,735 as it holds above $22.5,000. The larger crypto will trend when range bound levels are breached. Bitcoin is holding above the 21-day SMA line for possible upward movement.
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