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Bitcoin Eyes $27k As Market Slowly Recovers

Twitter icon  •  Published il y a 11 mois  •  Hassan Maishera

Bitcoin is slowly moving toward the $27k level once again as the market recovers from its poor weekend performance.

TL;DR

  • Bitcoin has been trading between the $26,400 and $27,600 regions over the past few days.

  • The market is slowly recovering, and Bitcoin could test the $27k level once again.

Bitcoin Could Retest $27k Once Again

The cryptocurrency market has had a pretty boring month so far. Despite the major news in the market, Bitcoin has failed to retest the $30k level in recent weeks.

The world’s leading cryptocurrency by market cap has been trading between the $26,400 and $27,600 levels in recent days, indicating that the market has been consolidating.

Bitcoin has been sweeping the highs and lows over the past few weeks. However, after trading most of the weekend around $26,500, Bitcoin could be preparing to test the $27k level over the next few hours.

There is no major catalyst driving the current market recovery. At press time, Bitcoin is trading at $26,840, down by less than 1% in the last 24 hours. 

Ether, the second-largest cryptocurrency by market cap, is also recovering from its recent slump. ETH is now trading above $1,800 again after spending most of the weekend trading below that level.

The total cryptocurrency market cap currently stands at $1.12 trillion, down by less than 1% so far today. 

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.