Over the past 24 hours, Bitcoin price only increased slightly by 0.4% while the market was in the red

Over the past 24 hours, Bitcoin price only increased slightly by 0.4% while the market was in the red, most large-cap cryptocurrencies plunged without braking. At press time, BTC is trading around $ 32,720, recording an 11% drop over the past 24 hours.


BTC/USD 4-hour chart | Source: TradingView

Bitcoin price today went sideways in the midst of a market fire

This morning, Bitcoin stood at $ 32.37, a slight increase of 0.4%. During the last 24 hours, the leading cryptocurrency’s price trading between $ 31,949 – $ 34,898 was the lowest and highest. Bitcoin transaction volume reached $ 59.6 billion, market cap was recorded at $ 600.3 billion.

Bitcoin has stopped rising in recent two weeks. Many analysts believe that the downtrend will prevail soon. Currently, the virtual currency is stuck in the 32,000 – 33,000 USD range but is still at risk of a breach below the 32,000 USD threshold.

While BTC was flat, the series of smaller cap coins were in the red. Specifically, Ethereum fell 2.86% to $ 1,338, a recorded capitalization of $ 150.9 billion. Chainlink fell 5.2% to $ 23.6, pulling the market cap down to $ 9.4 billion.

Likewise, Polkadot decreased by 1.7%; XRP is down 1.12%; Cardano is down 1.46%, Stellar is down 3.2% …

The total market cap recorded early today was $ 952 billion, down 1.16%.

Some bitcoin investors appear to be buying in around $30,000 and taking profits at $40,000, according to some analysts.

In the options market, a bullish bitcoin mentality appears to be forming. Open interest (OI) by strikes is highest at the $52,000 price point as of Sunday, with 21.4 BTC in OI. Second place is much more bearish, however, with 17.7 BTC piled up at the $20,000 spot level.

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