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Bitcoin (BTC) Price Prepares to Return to $25,000?

Bitcoin (BTC) Price Prepares to Return to $25,000

The world’s largest Blockchain cryptocurrency Bitcoin (BTC) prepares to return to $25,000 if the $28k key support level fails to hold despite rallying above $30,000 a couple of weeks ago.

At the time of writing, Bitcoin is trading around the $28k support level – $28,210, according to TradingView data, BTC/USD is seriously struggling to preserve $28,000 as support and it may lose steam anytime soon

Bitcoin (BTC) is struggling in this moment

Reacting to the market condition, popular crypto analyst, Michael Van De Poppe, remarked that the price currently looks “weak,” stressing that it categorically fails to reincarnate any sign of its previous uptrend. 

In the same vein, Credible Crypto remarked that Bitcoin is obviously at the key local demand level and it is not getting any interesting reaction. He stressed that the next target will be either $26K or $25k if the current position fails to hold sway. 

It is noteworthy that $25,500 captured Bitcoin’s 200-week moving average, which was a key support level that was lost in 2022 and just regained a couple of weeks ago. 

On the contrary, Crypto Tony was highly optimistic and bullish despite the market condition, stating that there is a potential for a long position on the day. He informed his followers that he will play a long scalp role. 

Contention Between Bull and Bear 

Given the foregoing, it appears there is no consensus among famous crypto traders as the battle between bull and bear rages on. 

Regardless of the present circumstance, Bitcoin’s brilliant performance in recent times cannot be wished away as it recorded local highs above $31,000, with market insight analyst Mickybull Crypto believing that it would soon fill up.

There are no mincing words that the price of Bitcoin (BTC) has been on a rollercoaster ride over the past few months, with significant volatility and fluctuations in its value. Time will tell if it is bull or bear that will seize the moment

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