{"id":622538,"date":"2023-03-27T13:49:30","date_gmt":"2023-03-27T18:49:30","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/27\/bitcoin-price-trapped-in-a-strong-tug-of-war-can-the-bulls-push-to-30k-soon\/"},"modified":"2023-03-27T13:49:30","modified_gmt":"2023-03-27T18:49:30","slug":"bitcoin-price-trapped-in-a-strong-tug-of-war-can-the-bulls-push-to-30k-soon","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/27\/bitcoin-price-trapped-in-a-strong-tug-of-war-can-the-bulls-push-to-30k-soon\/","title":{"rendered":"Bitcoin Price Trapped in a Strong Tug-of-War; Can the Bulls Push to $30k Soon?"},"content":{"rendered":"
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After an impressive rally in the first two weeks of March, Bitcoin<\/a>\u2018s price ended last week on a Doji candlestick pattern, indicating a stalemate between buyers and sellers at around $28k. This has led most cryptocurrency traders to avoid the market to prevent forced liquidation, as reflected in the low level of liquidation<\/a> in the crypto market, which stands at around $48 million, compared to over $350 million recorded two weeks ago.<\/p>\n

Global banking crisis fuels Bitcoin rally<\/strong><\/h2>\n

Bitcoin<\/a>\u2018s price has risen by nearly 70% YTD, while most banking stocks have seen double-digit percentage losses in the same period. This rally can be attributed to the ongoing global banking crisis<\/a> and rising inflation<\/a>.<\/p>\n

Regulatory uncertainty<\/strong><\/h2>\n

The ongoing crypto regulatory scrutiny in the United States has raised uncertainty about short-term Web3 adoption in the country. The SEC intends to classify all digital assets, except Bitcoin, as unregistered securities. Additionally, U.S. financial regulators seek to classify crypto-staking products as unregistered securities.<\/p>\n

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Bitcoin price analysis<\/strong><\/h2>\n

Analyst Rekt Capital believes that Bitcoin has officially entered a fresh macro bull market with its recent breakout from $25k. However, the current neutrality between Bitcoin bulls and bears in the weekly time frame shows short-term weakness.\u00a0<\/p>\n

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If #BTC<\/a> continues to struggle to break beyond $28,700 then a healthy dip may need to occur to gain fresh buyer interest at lower levels<\/p>\n

Technicals are showing some short-term weakness & it could be that a catalyst will soon appear to play that weakness out$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a><\/p>\n<\/div>\n

\u2014 Rekt Capital (@rektcapital) March 26, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Analysts predict that Bitcoin price could dip to gain fresh buyer interest at lower levels.<\/p>\n

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Elena R<\/a><\/h3>\n

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

<\/span> Back to top button<\/span> <\/a><\/p>\n<\/div>\n

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\n Elena R<\/p>\n","protected":false},"excerpt":{"rendered":"

After an impressive rally in the first two weeks of March, Bitcoin\u2018s price ended last week on a Doji candlestick pattern, indicating a stalemate between buyers and sellers at around $28k. This has led most cryptocurrency traders to avoid the market to prevent forced liquidation, as reflected in the low level of liquidation in the<\/p>\n","protected":false},"author":1,"featured_media":622539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,4759],"tags":[],"class_list":["post-622538","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-price"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/622538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=622538"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/622538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/622539"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=622538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=622538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=622538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}