Home · Business · Sep 10 archive
Crypto Prices Moderating as Bitcoin Holds Near $79,000
Confirmed
In Short: Bitcoin and other major cryptocurrencies are moderating today, with Bitcoin trading near the $79,000 mark and showing a mixed momentum, according to reports. The price of Bitcoin is down 0.6% since midnight UTC, as of this writing, according to CoinDesk data.
The recent crossover of Bitcoin's short-term and long-term moving averages, known as a golden cross, has triggered a bullish signal on the price chart. However, this signal has a mixed long-term track record, as noted by reports. The Relative Strength Index (RSI) is around 61, indicating ongoing positive momentum, but the Moving Average Convergence Divergence (MACD) remains in negative territory, suggesting that the upside pressure is moderating.
Altcoins, including Ethereum and Ripple, are echoing Bitcoin's cautious sentiment. Ethereum has retraced to approximately $2,470, while Ripple has dropped to $1.38. The 100-day Exponential Moving Average (EMA) near $70,727 represents a key structural floor that would need to be broken for a more pronounced trend deterioration, according to market analysts.
Malone Lam, a crypto trader, has been accused of stealing $245 million worth of Bitcoin and laundering the proceeds, according to the BBC. This news adds to the volatility in the market, which is also being influenced by ETF flows and inflation concerns.
What's confirmed
- The token was trading at around Rs. 68,843, down 3.42%, showing stronger selling pressure than Bitcoin and Ethereum.
- Bitcoin is trading around the USD 79,000 mark, keeping the USD 80,000 level important for the next move.
- Market analysts are watching whether Bitcoin can reclaim the level and strengthen its recent recovery.
- Bitcoin is holding near USD 79,000, while mixed ETF flows and inflation concerns are adding uncertainty across the market.
- The cryptocurrency market is seeing mixed movement today, with Bitcoin holding near the USD 79,000 level while several major altcoins remain under pressure.
- At the same time, some smaller cryptocurrencies are posting strong gains.
- Ethereum is showing a modest decline in the latest market data.
What's still developing
- The crossover shows that short‑term momentum is finally overtaking the long‑term trend, setting the stage for a potential sustained rally.
- As of this writing, bitcoin changed hands at $78,650, down 0.6% since midnight UTC, according to CoinDesk data.
- This signal has previously triggered 12 times in bitcoin’s history, yielding a mixed long-term track record, as CoinDesk discussed in detail last week.
- Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to test the near-term $78,000 support.
- BNB is among the weaker major cryptocurrencies in the latest available market data.
- Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e.
- The token was trading near Rs. 235 and had gained 8.02%, putting it well ahead of most major cryptocurrencies.
- Stablecoins are showing a different trend from several major cryptocurrencies.