• bitcoinBitcoin (BTC) $ 63,200.00
  • ethereumEthereum (ETH) $ 2,464.13
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 577.16
  • solanaSolana (SOL) $ 146.68
  • usd-coinUSDC (USDC) $ 1.00
  • xrpXRP (XRP) $ 0.541785
  • staked-etherLido Staked Ether (STETH) $ 2,463.46
  • dogecoinDogecoin (DOGE) $ 0.111508
  • tronTRON (TRX) $ 0.163399
  • the-open-networkToncoin (TON) $ 5.29
  • cardanoCardano (ADA) $ 0.355531
  • avalanche-2Avalanche (AVAX) $ 29.17
  • shiba-inuShiba Inu (SHIB) $ 0.000018
  • wrapped-stethWrapped stETH (WSTETH) $ 2,909.02
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 63,077.00
  • wethWETH (WETH) $ 2,462.74
  • chainlinkChainlink (LINK) $ 11.13
  • bitcoin-cashBitcoin Cash (BCH) $ 330.74
  • suiSui (SUI) $ 2.25
  • polkadotPolkadot (DOT) $ 4.25
  • uniswapUniswap (UNI) $ 7.95
  • nearNEAR Protocol (NEAR) $ 4.88
  • daiDai (DAI) $ 1.00
  • leo-tokenLEO Token (LEO) $ 6.03
  • litecoinLitecoin (LTC) $ 66.64
  • bittensorBittensor (TAO) $ 670.98
  • aptosAptos (APT) $ 9.01
  • pepePepe (PEPE) $ 0.000010
  • wrapped-eethWrapped eETH (WEETH) $ 2,585.61
  • internet-computerInternet Computer (ICP) $ 8.20
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.45
  • kaspaKaspa (KAS) $ 0.138392
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999507
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.374268
  • moneroMonero (XMR) $ 153.20
  • ethereum-classicEthereum Classic (ETC) $ 18.90
  • stellarStellar (XLM) $ 0.092354
  • dogwifcoindogwifhat (WIF) $ 2.75
  • blockstackStacks (STX) $ 1.77
  • okbOKB (OKB) $ 42.44
  • immutable-xImmutable (IMX) $ 1.55
  • ethena-usdeEthena USDe (USDE) $ 0.999487
  • aaveAave (AAVE) $ 146.75
  • whitebitWhiteBIT Coin (WBT) $ 15.12
  • render-tokenRender (RENDER) $ 5.55
  • optimismOptimism (OP) $ 1.73
  • filecoinFilecoin (FIL) $ 3.64
  • crypto-com-chainCronos (CRO) $ 0.077227
  • injective-protocolInjective (INJ) $ 20.81
  • mantleMantle (MNT) $ 0.607689
  • fantomFantom (FTM) $ 0.702505
  • hedera-hashgraphHedera (HBAR) $ 0.051735
  • arbitrumArbitrum (ARB) $ 0.538423
  • vechainVeChain (VET) $ 0.022879
  • thorchainTHORChain (RUNE) $ 5.08
  • cosmosCosmos Hub (ATOM) $ 4.38
  • sei-networkSei (SEI) $ 0.479137
  • the-graphThe Graph (GRT) $ 0.166534
  • bonkBonk (BONK) $ 0.000022
  • bitget-tokenBitget Token (BGB) $ 1.08
  • popcatPopcat (POPCAT) $ 1.54
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,457.89
  • flokiFLOKI (FLOKI) $ 0.000141
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,756.39
  • mantra-daoMANTRA (OM) $ 1.55
  • theta-tokenTheta Network (THETA) $ 1.31
  • arweaveArweave (AR) $ 19.48
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,570.89
  • makerMaker (MKR) $ 1,377.16
  • celestiaCelestia (TIA) $ 5.56
  • pyth-networkPyth Network (PYTH) $ 0.325066
  • gatechain-tokenGate (GT) $ 9.12
  • heliumHelium (HNT) $ 6.69
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 62,998.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.804798
  • worldcoin-wldWorldcoin (WLD) $ 2.04
  • ondo-financeOndo (ONDO) $ 0.722506
  • algorandAlgorand (ALGO) $ 0.123610
  • matic-networkPolygon (MATIC) $ 0.375576
  • kucoin-sharesKuCoin (KCS) $ 8.20
  • quant-networkQuant (QNT) $ 67.01
  • lido-daoLido DAO (LDO) $ 1.09
  • based-brettBrett (BRETT) $ 0.096015
  • jasmycoinJasmyCoin (JASMY) $ 0.019489
  • ethenaEthena (ENA) $ 0.333992
  • bitcoin-svBitcoin SV (BSV) $ 45.76
  • neiro-3Neiro (NEIRO) $ 0.002147
  • bittorrentBitTorrent (BTT) $ 0.00000092
  • galaGALA (GALA) $ 0.021776
  • wormholeWormhole (W) $ 0.321195
  • coredaoorgCore (CORE) $ 0.936371
  • flowFlow (FLOW) $ 0.550565
  • fasttokenFasttoken (FTN) $ 2.56
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,456.74
  • starknetStarknet (STRK) $ 0.422911
  • notcoinNotcoin (NOT) $ 0.007995
  • beam-2Beam (BEAM) $ 0.015807
  • aerodrome-financeAerodrome Finance (AERO) $ 1.24
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,512.04
  • conflux-tokenConflux (CFX) $ 0.174114
  • msolMarinade Staked SOL (MSOL) $ 179.62
  • spx6900SPX6900 (SPX) $ 0.835526
  • elrond-erd-2MultiversX (EGLD) $ 27.59
  • klay-tokenKlaytn (KLAY) $ 0.129378
  • neoNEO (NEO) $ 10.62
  • ordinalsORDI (ORDI) $ 35.66
  • usddUSDD (USDD) $ 1.00
  • flare-networksFlare (FLR) $ 0.014831
  • axie-infinityAxie Infinity (AXS) $ 4.78
  • eosEOS (EOS) $ 0.479352
  • eigenlayerEigenlayer (EIGEN) $ 3.85
  • mog-coinMog Coin (MOG) $ 0.000002
  • tezosTezos (XTZ) $ 0.698107
  • nervos-networkNervos Network (CKB) $ 0.015604
  • ecasheCash (XEC) $ 0.000035
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.48
  • axelarAxelar (AXL) $ 0.836339
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • pendlePendle (PENDLE) $ 4.12
  • tether-goldTether Gold (XAUT) $ 2,658.43
  • fraxFrax (FRAX) $ 0.997676
  • the-sandboxThe Sandbox (SAND) $ 0.266325
  • akash-networkAkash Network (AKT) $ 2.59
  • mina-protocolMina Protocol (MINA) $ 0.540263
  • chilizChiliz (CHZ) $ 0.069013
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 63,007.00
  • aleoALEO (ALEO) $ 3.03
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.006910
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,528.22
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000029
  • dydx-chaindYdX (DYDX) $ 0.922433
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.35
  • roninRonin (RON) $ 1.60
  • decentralandDecentraland (MANA) $ 0.300715
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.005588
  • nexoNEXO (NEXO) $ 0.995086
  • superfarmSuperVerse (SUPER) $ 1.21
  • zcashZcash (ZEC) $ 35.51
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 63,276.00
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.88
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,463.47
  • aioz-networkAIOZ Network (AIOZ) $ 0.461768
  • beldexBeldex (BDX) $ 0.077795
  • pax-goldPAX Gold (PAXG) $ 2,664.55
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000090
  • turboTurbo (TURBO) $ 0.007310
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,460.41
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,663.53
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 153.06
  • true-usdTrueUSD (TUSD) $ 0.999120
  • book-of-memeBOOK OF MEME (BOME) $ 0.007193
  • apecoinApeCoin (APE) $ 0.732566
  • zksyncZKsync (ZK) $ 0.134440
  • havvenSynthetix Network (SNX) $ 1.50
  • dexeDeXe (DEXE) $ 8.58
  • oasis-networkOasis (ROSE) $ 0.072010
  • gigachad-2Gigachad (GIGA) $ 0.050229
  • raydiumRaydium (RAY) $ 1.80
  • layerzeroLayerZero (ZRO) $ 4.23
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.12
  • safeSafe (SAFE) $ 0.951933
  • arkhamArkham (ARKM) $ 1.67
  • blurBlur (BLUR) $ 0.236218
  • celoCelo (CELO) $ 0.819026
  • gnosisGnosis (GNO) $ 173.59
  • astarAstar (ASTR) $ 0.060441
  • metaplexMetaplex (MPLX) $ 0.447010
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999934
  • livepeerLivepeer (LPT) $ 12.48
  • iotaIOTA (IOTA) $ 0.124385
  • frax-etherFrax Ether (FRXETH) $ 2,455.66
  • xdce-crowd-saleXDC Network (XDC) $ 0.028417
  • dydxdYdX (ETHDYDX) $ 0.924952
  • apenftAPENFT (NFT) $ 0.00000042
  • theta-fuelTheta Fuel (TFUEL) $ 0.061742
  • usdbUSDB (USDB) $ 1.01
  • dogs-2Dogs (DOGS) $ 0.000783
  • l2-standard-bridged-weth-blastL2 Standard Bridged WETH (Blast) (WETH) $ 2,463.61
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.079362
  • super-oethSuper OETH (SUPEROETHB) $ 2,461.90
  • compound-governance-tokenCompound (COMP) $ 45.46
  • echelon-primeEchelon Prime (PRIME) $ 8.34
  • bitcoin-goldBitcoin Gold (BTG) $ 22.18
  • stepnGMT (GMT) $ 0.132901
  • osmosisOsmosis (OSMO) $ 0.559060
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.06
  • ethereum-pow-iouEthereumPoW (ETHW) $ 3.55
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 63,112.00
  • kavaKava (KAVA) $ 0.348453
  • iotexIoTeX (IOTX) $ 0.039233
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 0.999703
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,462.69
  • bitcoin-avalanche-bridged-btc-bBitcoin Avalanche Bridged (BTC.b) (BTC.B) $ 63,132.00
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006766
  • safepalSafePal (SFP) $ 0.716133
  • dymensionDymension (DYM) $ 1.67
  • golemGolem (GLM) $ 0.340066
  • 1inch1inch (1INCH) $ 0.262730

Bitcoin at Crossroads: Weak Rebounds and Potential Breakdowns in Focus

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The cryptocurrency market, particularly Bitcoin, has always been the subject of intense scrutiny and speculation. According to Rekt Capital, a crypto analyst, the technical uptrend supporting Bitcoin’s price has faltered. This shift in market dynamics calls for a closer examination of Bitcoin’s current standing and potential future trajectory.

#BTC

There we go – there was reason to believe the technical uptrend was weakening and it has finally been lost as support

Turn this blue technical uptrend into new resistance upon rebound would pose further sell-side pressure on the ~$41200 (black)$BTC #Crypto #Bitcoin https://t.co/r5uxVNlMWT pic.twitter.com/yRR0ci5Hjh

— Rekt Capital (@rektcapital) January 19, 2024

At press time, BTC traded at $41,362.87, with a market capitalization of around $835.45 billion, per CoinStats. Despite a 24-hour trading volume of $20.84 billion, the digital currency has seen a minor decline of 0.38%.

Bitcoin at Crossroads: Weak Rebounds and Potential Breakdowns in Focus

BTC/USD 1-day price chart (Source: CoinStats)

Moreover, recent market activities suggest that Bitcoin struggles to maintain its previous momentum. Historically, Bitcoin has shown resilience by bouncing back from lower trend lines, demonstrating robust rallies. However, the latest rebound from the blue technical uptrend line has been notably weak.

Furthermore, Bitcoin’s behavior in response to its higher low trend line is crucial. A downside wick below this trend line, followed by a daily close above it, could potentially salvage the situation. As further highlighted by Rekt Capital, a daily candle close below this higher low likely initiates a breakdown process, signaling a bearish turn for Bitcoin.

#BTC has indeed dropped into the Weekly Range Low after flipping black into new resistance

Weekly Close below the Range Low would be bearish and could begin the breakdown process$BTC #Crypto #Bitcoin https://t.co/ZIgcdyyiIe pic.twitter.com/SXQ5BfQ4Ds

— Rekt Capital (@rektcapital) January 19, 2024

Adding to these concerns is Bitcoin’s interaction with its weekly range. After transforming the previous support level into a new resistance zone, BTC has recently fallen into the weekly low range. If Bitcoin closes the week below the range low, it would confirm a bearish outlook and kickstart a breakdown process.

Concurrently, the situation has become precarious when considering Bitcoin’s shifting support and resistance levels within the weekly range. The critical point is whether the current support level turns into resistance. If this occurs, Bitcoin could descend into the red range. This juncture will be telling, as it will reveal whether Bitcoin is poised for a range breakdown.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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