Analysis of the Crypto Market in April 2024

Crypto markets saw a struggle in April. Particularly, despite the halving event, Bitcoin couldn’t show the expected increase. The price of Bitcoin is currently hovering around $65,000 and overall altcoins are showing a positive performance. The market’s performance this month creates new questions for investors. Current State of Bitcoin Bitcoin began to close above the psychological barrier of $65,000. However, while the $63,350 support level is maintained, the $65,470 resistance level has yet to be broken. If this resistance is breached, Bitcoin could move towards $66,860 and $67,804 and if successful, it could advance to new targets between $71,700 and $73,777. Altcoins and the Market in General The double-digit increases observed in meme coins after the halving indicate an increase in investors’ risk appetite. Especially, BONK Coin experienced a nearly 40% increase compared to others. On the other hand, altcoins like SHIB and FLOKI also gained around 18%. However, a […]

Analysis of the Crypto Market in April 2024

Crypto markets saw a struggle in April. Particularly, despite the halving event, Bitcoin couldn’t show the expected increase. The price of Bitcoin is currently hovering around $65,000 and overall altcoins are showing a positive performance. The market’s performance this month creates new questions for investors.

Current State of Bitcoin

Bitcoin began to close above the psychological barrier of $65,000. However, while the $63,350 support level is maintained, the $65,470 resistance level has yet to be broken. If this resistance is breached, Bitcoin could move towards $66,860 and $67,804 and if successful, it could advance to new targets between $71,700 and $73,777.

Altcoins and the Market in General

The double-digit increases observed in meme coins after the halving indicate an increase in investors’ risk appetite. Especially, BONK Coin experienced a nearly 40% increase compared to others. On the other hand, altcoins like SHIB and FLOKI also gained around 18%. However, a 43% decrease in market volume after the halving creates concern for investors.

Useful Information

The $65,470 resistance level of Bitcoin could be an important breaking point; the opening of this level could gain momentum.
The performance of meme coins reflects the general risk perception of the market and provides information about investor sensitivity.
Decreases in market volume can be used to evaluate market reactions, especially after big events.

In conclusion, the movements in Bitcoin and altcoins provide important data for investors to evaluate market dynamics and potential opportunities. Bitcoin’s approach to resistance levels and the increase in meme coins are among the important developments in the crypto market in April.

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