RATE Group | Bitcoin bulls are intimidated by a strong resistance $8,000
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Bitcoin bulls are intimidated by a strong resistance $8,000

27 Apr Bitcoin bulls are intimidated by a strong resistance $8,000

Posted at 14:22h in Bitcoin News by

  • The cryptocurrency market is dominated by halving discussions.
  • BTC/USD is range-bound below critical resistance $8,000.

The cryptocurrency market is a mixed picture on Monday. Bitcoin entered a consolidation phase after a retreat from the new April’s high $7,800; major altcoins are losing ground amid low trading activity. The total capitalization of all digital assets in circulation settled at $221 billion, slightly higher from this time on Sunday, April 26, while an average daily trading volume reached $141 billion. 

From the fundamental point of view, the market sentiments are dominated by the upcoming halving narrative and uber stimulating monetary policies around the globe. The Bank of Japan dropped the limit for its government bonds buying program, which means the regulator is ready to buy as much debt as necessary to finance the economic support.

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BTC/USD has been sitting in a tight range marginally above $7,700 since the beginning…

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