RATE Group | Bitcoin enters into holiday mode
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Bitcoin enters into holiday mode

29 Nov Bitcoin enters into holiday mode

Posted at 06:45h in Cryptocurrency News by

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  • Bitcoin (BTC) is range-bound amid low trading activity conditions.
  • Altcoins stuck inside the ranges with a bearish bias.

The cryptocurrency market has entered a range-bound phase as a pre-holiday season is upon us. Thanksgiving day in the US and Black Friday keep trading activity low and risks of sudden price jump high. The total cryptocurrency market capitalization settled at $204 billion unchanged from this time on Thursday; an average daily trading volume decreased to $64 billion. Bitcoin’s market share settled at 66.4%.

Top-3 coins price overview 

BTC/USD bulls faced a strong resistance above $7,600 on Thursday and had to retreat towards $7,470 by the time of writing.  The first digital currency is mostly unchanged both on a day-to-day basis and since the beginning of Friday. Looking technically, the initial support is created by SMA50 (Simple Moving Average) 1-hour, located on the approach to $7,400.

BTC/USD, 1-hour chart


 
Ethereum is trading at…

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