Bitcoin Price Today

Bittime - Bitcoin price rose more than 2% in the last 24 hours, reaching over $59K as the European trading session began. Although still held back by the 200-daily Moving Average (MA), the market is showing strong institutional interest with the US spot BTC ETF raising more than $600 million in the last three days.

Today's Bitcoin Price Has Increased

Bitcoin (BTC) price rose more than 2% in the last 24 hours and briefly traded above $59K on Wednesday during the early European session. However, the highly popular coin struggled to surpass the daily 200 Moving Average (MA) after consistently closing below this level in recent days. 

The industry still fears greater crypto capitulation. On Wednesday, Bitcoin's fear and greed index fell from 44% to 28%. After closing below $61K last week, Bitcoin price has signaled medium-term bearish sentiment. This confirms a possible double top supported by bearish divergence on the weekly Relative Strength Index (RSI).

Increased BTC On-chain Activity

The network has seen increased on-chain activity in recent weeks, mainly due to whale traders, after the BTC price reached a significant resistance level of around $73k. For example, amidst the recent capitulation, a Bitcoin whale famously bought 10K Bitcoins.

Institutional Investors Want to Get Bitcoin

Despite the price volatility, more and more institutional investors are looking to get their hands on Bitcoin, as Coinspeaker points out. The US-based spot BTC ETF has earned more than $600 million in the last three days.

Meanwhile, it is estimated that Mount Gox's repayment will continue in the next three months. After that, the defunct FTX will begin paying out about $16 billion to creditors.

Conclusion

Bitcoin price rose more than 2% in the last 24 hours, reaching over $59K as the European trading session began. But Bitcoin is still struggling to surpass the 200-daily Moving Average (MA), which has become a strong ceiling in recent days. Indicated by the decline in Bitcoin's fear and greed index from 44% to 28% on Wednesday.

Market sentiment remains cautious about the possibility of a larger crypto capitulation. Despite the uncertainty, institutional investors remain interested, as shown by the increase in funds invested in US-based spot BTC ETFs, which have raised more than $600 million in the last three days.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.