Bitcoin’s current trading price sits at $61,985, experiencing a slight dip of approximately 1.25% within the past 24 hours. Despite this minor decline, its market capitalization remains robust at $1,222 billion.
Presently, the cryptocurrency is garnering support within an upward channel, with a critical threshold at $61,700. Should this support level be breached, it may incite further downward movement, potentially leading Bitcoin towards the $60,700 and $60,000 support levels.
Nevertheless, the 50-day exponential moving average (EMA) stands at $62,210, currently serving as a resistant force, indicating that any potential upward momentum may be restricted in the immediate future.
