Crypto prices are struggling today as sentiment turns more negative. The FTX crisis and resulting pullback are causing a sell-off in the market. Bitcoin prices are down almost 2% in the last 24 hours but have since recovered 1%. It is currently trading at Rs. 17,25,000. With the Consumer Price Index to be released this week and the US midterm election, the crypto market would face more liquidity and may lead to more volatility. The price has fallen by less than 2% while the volume is up by 14%. BTC’s current dominance is at 38.81%.
At the time of writing, BTC was trading at $20,925.
BITCOIN was trading in a range from $18,000 to $20,550 for almost one and a half months. The asset gave a breakout above the range. However, the bulls struggled to keep the momentum, dropping prices to $20k. BTC tested the support of the 50-Day Moving Average and rallied up to $21,480 but with low volumes. The asset is struggling to sustain itself and is facing rejections at higher levels. To further rally, the prices need to break and close above the key resistance of $22,500-$22,750. $20,500 and $17,500 will act as key support for BTC.
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