BTC Price Prediction: Today’s Bitcoin Price, 30th March 2023

The biggest cryptocurrency in the world, Bitcoin, reversed half of its downward trend and gained momentum. The second-largest cryptocurrency, Ethereum, outperformed BTC and rose by more than 4%.

A number of reasons, such as an increase in US consumer confidence in March, recent developments in the cryptocurrency industry, and Bitcoin’s reputation as a safe-haven asset, have contributed to the upward rally in the market for cryptocurrencies.

It is important to note that recent bank failures have caused consumers to lose faith in conventional banks, which was seen as a major contributing factor to the rise in the price of bitcoin.

The market capitalization of all cryptocurrencies has risen by 2.56 percent to $1.16 trillion, with Bitcoin and ETH driving the growth. Notably, the CFTC has targeted Ethereum explicitly by stating its support for ETH as a commodity, leading to an increase of more than 4% in price in the most recent few hours.

Recently, the head of the US CFTC reiterated his position that ether is a commodity, not a security, which may raise the value of ether.

TODAY’S BITCOIN PRICE

Bitcoin is currently worth $27,550, with a 24-hour transaction volume of $18 billion. In the last day, Bitcoin has risen by almost 2.5%.

The most popular cryptocurrency, Bitcoin, is currently selling with a strong bullish bias close to the $27,500 mark. Bitcoin has formed a bullish engulfing candle in the two-hour time period, indicating that buyers may control the market.

On the upside, Bitcoin is likely to encounter immediate opposition at the $28,000 level. Should the price of Bitcoin continue to rise through this level, it may eventually move towards the next resistance level of $28,900.

In the meantime, the already-violated declining trendline supports Bitcoin’s bullish potential. Additionally, Bitcoin’s immediate support level is at $26,600, and a bearish breach below this level will probably push the price of the cryptocurrency towards the $25,600 level.

Further selling pressure below the $25,600 mark could push the price of BTC down to the $24,000 mark.

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