Bitcoin

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-sees-notable-developments/" data-wpel-link="internal">Crypto Market Sees Notable Developments</a><br></p>
<p class="p1" style="text-align: justify">Notable developments continue to emerge in the <a href="https://en.coin-turk.com/robinhood-and-jump-trading-new-developments-in-their-partnership/" data-wpel-link="internal">crypto market</a>. Accordingly, the total crypto market value seems to have recovered a significant portion of its recent losses as the Bitcoin price surpassed the $62,000 mark during yesterday’s intraday peak. Among altcoins, SUI took the lead with a 38% rally, pushing its price to $0.83.</p> 
<h2 class="p1" style="text-align: justify" id="total-chart-analysis">TOTAL Chart Analysis</h2> 
<p class="p1" style="text-align: justify">The total crypto market value increased by $210 billion in the last 24 hours, bringing TOTAL to $2.09 trillion. In doing so, TOTAL managed to regain half of the profits lost during the recent selling pressure. However, the total crypto market value failed to surpass the $2.11 trillion resistance. Turning this into support could further propel the crypto market’s growth towards $2.20 trillion.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-378316 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/total-1.webp" alt="" width="1754" height="768"></p> 
<p class="p1" style="text-align: justify">However, the possibility of profit-taking cannot be ignored, and a sharp downtrend could lower TOTAL. The crypto market might drop to $2 trillion, which is likely a support base at the moment. Avinash Shekhar, CEO of the crypto futures exchange Pi42, shared the following insights on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Given the market’s volatile nature, potential declines are expected as recent gains might already be priced in.”</p> 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
<p class="p1" style="text-align: justify">Bitcoin, trading at $61,094, saw significant growth yesterday. The broader market rally caused Bitcoin to surpass the $62,000 mark during Thursday’s intraday high before slightly correcting. As a result of this rise, Bitcoin secured the $60,000 level as a support base and might test the same level again.</p> 
<p class="p1" style="text-align: justify">Since this price has been used as a springboard for Bitcoin several times, it wouldn’t be surprising to see Bitcoin rise to $65,000 from here. However, there is still a slight chance of falling below this level. Losing this support level could send Bitcoin to $58,000. Further declines could erase recent gains.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-378317 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-3.webp" alt="" width="1755" height="768"></p> 
<h2 class="p1" style="text-align: justify" id="sui-chart-analysis">SUI Chart Analysis</h2> 
<p class="p1" style="text-align: justify">SUI witnessed a significant rise, enough to sweep away the selling pressure at the end of July and early August, pushing the altcoin towards critical resistance. SUI, which rose by 38% in a single day, stood out as the best-performing altcoin. Currently trading at $0.83, the next resistance level for the altcoin is $0.90, and surpassing this would mark a monthly peak.</p> 
<p class="p1" style="text-align: justify">Turning this into support could push SUI to $1.00 and beyond. On the other hand, if SUI <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> choose to sell to secure their gains, this 38% rally could be invalidated. SUI could drop to $0.77, erasing some of the investors’ profits.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-378318 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/sui.webp" alt="" width="1754" height="768"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-market-sees-notable-developments/" data-wpel-link="internal">Crypto Market Sees Notable Developments</a></h5>
<p>The post <a href="https://en.coin-turk.com/crypto-market-sees-notable-developments/" data-wpel-link="internal">Crypto Market Sees Notable Developments</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Crypto Market Sees Notable Developments

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