The overall crypto market outlook remains positive after BTC managed to hold its support over the weekend to end the month with gains.
Bitcoin’s price graph has been neutral over the last two days. However, two factors have helped the crypto market outlook stay buoyant. First, BTC has held its support above $60,000, fighting off selling pressures from bears. Second, it continues to trade above its 50-day and 20-day moving average, resulting in bullish market sentiments.
With these movements, the crypto market will likely end the month with net gains. This marks a reversal of the previous month when major tokens experienced losses, including BTC. Bitcoin has gone up by around 8% within September.
At the beginning of the month, it dipped below $60,000, sending signals for a possible correction in the crypto market. Sentiments in the market were dampened until around September 10, after which it started picking up. After consolidating above $60,000, BTC would have gone even higher, but stiff resistance near $66,000 has stopped it.
Other crypto token prices are also in the green. Tokens like SOL, XRP, DOGE, and ADA have also seen upward movements in the last 24 hours. SHIB was one of the biggest gainers in the same period, rising around 27%. Moreover, as per the current market trends, crypto token prices will likely stay robust in the next few days.
BTC/USD 1D price chart
Bitcoin is currently trading at around $64,600 on September 30, 2024, with BTC/USD trading lower by a margin of around 1.4% in the last 24 hours. Bitcoin’s market cap was trading at around $1.2 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (around 60,100), as BTC’s 24-hour volume was at approximately $20 billion. The global crypto market cap decreased by around 1%, trading above $2.2 trillion. BTC’s year-to-date returns are above 53%.
Check out Blockverse and stay updated with the latest crypto trends!
