Bitcoin’s exponential growth is set to match the 2020 levels. The influx of TradFi institutions has had a significant impact on the sentiment of investors.
The potential interest rate hike will not be a decisive factor in BTC’s price movement based on market indicators.
The Exponential Moving Average for 10-day EMA indicates “Buy” at 30481 and 200-day EMA indicates “Buy” at 26046. The Simple Moving Average for 10-day SMA indicates “Buy” at 30603 and 200-day SMA indicates “Buy” at 24920.
The Ichimoku Base Line, valued at 28107, continues to be neutral. The Hull Moving Average indicates “Sell” at 31083. The Volume Weighted Moving Average indicates “Buy” at 29377.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 70, with a neutral outlook. The Stochastic %K (14, 3, 3) at 90 and the Average Directional Index (14) at 34 indicate a Neutral outlook.
The MACD Level (12, 26), at 1039, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 73 and William’s Percentage too indicates a “Sell” sentiment at -7.
As of 10:00 AM, 4th July 2023, on WazirX, Bitcoin’s price is ₹26,71,846. There was a 0.16% increase in its price in the last 24 hours. The 7 day Bitcoin was up by 2.29%
Ethereum (ETH) is trading at ₹1,68,499. There was an 1.49% increase in the last 24 hours. The 7 day Ethereum was up by 3.37%.
The top gainers on WazirX include Verge (XVG), OokiDAO Token (OOKI), and DigiByte (DGB), with a price increase of 45.71%, 32.35%, and 16.41%, respectively.
However, the tokens that underperformed comprised FTX Token (FTT), Compound (COMP), and Uniswap (UNI), with a price decrease of 14.37%, 8.63%, and 7.37%, respectively.
Shiba Inu (SHIB) saw a price increase of 0.14% and is now priced at ₹0.000669. Dogecoin (DOGE) saw a increase of 1.72% and is now priced at ₹5.91.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
