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Bitcoin Surged To $47k Ahead of Bitcoin ETF Potential Approval; Key Indicators Show A Buy Sentiment

By January 9, 2024January 11th, 20242 minute read

The current price of Bitcoin (BTC) is $47,425.95, with an almost 0.42% increase in the last hour. There was an increase of 8.24% in its price in the last 24 hours. The 7-day Bitcoin was up by 3.34%.

Ethereum (ETH) is currently trading at $2,313.31, with an almost 0.13% decrease in the last hour. There has been a 6.13% increase in its price in the last 24 hours. The 7-day ETH has been down by 2.70%.

The Exponential Moving Average for 10-days and 200-days indicate “Buy” sentiment at 44765 and 34379, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate “Buy” at 44452 and 32696, respectively. The Simple Moving Average shows strong “Buy” sentiments.

The Ichimoku Base Line, valued at 43897, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 46141. The Volume Weighted Moving Average at 43886 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 66, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 82 and 18, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1047 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 81 with a “Neutral” indicator, while the Williams Percent Range (14) at −6 signals “Sell.”

As of 09:45 AM, 09th January 2024, on WazirX, Bitcoin’s current price is ₹41,75,239, with an almost 7% increase in the last hour. There was a 6.10% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 3.15%.

Ethereum (ETH) is trading at ₹2,05,770, with an increase of 3.03% in the last hour. There was an increase of 2.39% in the last 24 hours. The 7-day ETH is down by 3.20%.

The top gainers on WazirX include Threshold Network Token (T), Ethereum Naming Service (ENS), and Algorand (ALGO), with price increases of 34.9%, 25.74%, and 23%, respectively.

However, the tokens that underperformed comprised Venus (XVS), Ocean Protocol (OCEAN), and Band Protocol (BAND), with a price decrease of 9.45%, 6.86%, and 4.85%, respectively.

Shiba Inu (SHIB) saw a price increase of 7.62% and is now priced at ₹0.000847. Dogecoin (DOGE) saw an increase of 3.36% and is now priced at ₹7.1808.

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