When we look at the markets on the last day of the week, we see that there are sharp decreases led by Bitcoin. Although there have been minor recoveries in the last 24 hours, the leading cryptocurrency fell to the level of $ 18,617 yesterday. With this decrease, MicroStrategy and El Salvador made Bitcoin purchases. Today we will take a look at the state of the markets and some important developments.
Almost all of the cryptocurrencies experienced sharp decreases yesterday and the downward movement continued. However, when we take a look at the daily data, we see recovery in the markets compared to yesterday. When we look at the fear and greed index, it is at the level of 11 yesterday and today. There has been fear in the markets for a long time.
What’s Up With Bitcoin?
The leading cryptocurrency could not hold on to the support of 20 thousand dollars with the sharp declines it experienced yesterday and decreased to 18 thousand 617 dollars. When we look at the last 24-hour data, Bitcoin, which has increased by 2.23%, continues its price activity at $ 19 thousand 533. We can show the $ 20 thousand 950 region as the key resistance point for Bitcoin. If Bitcoin manages to jump into the $ 20 thousand 950 region, it can rise to the level of $ 21 thousand 650, and we can show the level of $ 22 thousand 550 as the next major resistance. Otherwise, Bitcoin can test the support levels of 18 thousand 460 and then 17 thousand 600 dollars.
Well, let’s take a look at how things were in Ethereum, at what level the leading altcoin was yesterday.
What’s Happening on Ethereum?
When we look at the leading altcoin Ethereum, we see that it regressed to $ 1009 yesterday, according to 24-hour data, it increased by 2.97% and continues to be priced at $ 1069. If Ethereum can reach the resistance at the $ 1300 level and break this resistance, it can test the resistance between $ 1400-1500 and rise up to $ 1700. However, any close below the $1100 level could drop the altcoin below $900 and test the $847 and then $700 levels.
What About Altcoins?
When we look at some of the other altcoins, we see small recovery in them. BNB coin is at $222, up 8% from the last 24-hour data. Cardano continues its price action at $ 0.45, while XRP is at $ 0.31.
El Salvador Bought BTC
MicroStrategy and El Salvador, which took advantage of the decreases in Bitcoin during the day, bought Bitcoin. Announcing that they are buying Bitcoin on Twitter, El Salvador’s President Nayib Bukele announced that they have bought 80 Bitcoins at the level of 19 thousand dollars.
MicroStrategy Continues to Buy BTC
MicroStrategy is the corporate company that holds the most Bitcoin in its balance sheet among those who buy Bitcoin along with El Salvador. The company announced that it bought 460 Bitcoins worth 10 million dollars at a price of 20 thousand 817 dollars.
