The BTC / USD pair turned down just before $ 14,000 and is currently holding at just under $ 13,200.
Bitcoin Up price drops below $ 13,300 after the daily high.
Bitcoin ( BTC ) fell below $ 13,300 on Oct. 28 after testing its resistance since 2019 and kinking from there.
Development of the cryptocurrency market on Coin360
Data from Cointelegraph Markets , Coin360 and TradingView show rising volatility on Wednesday after the BTC / USD pair hit $ 13,850.
When he failed to get to $ 14,000 it became unsafe. It then fell below $ 13,300.
In a subsequent rebound, $ 13,400 has become a major point. There were always increases and decreases.
On Wednesday, an unusually large transaction took place on the Coinbase exchange, which originated from an unknown wallet. There is likely to be a sale worth 1,072 BTC ($ 14.6 million). Previously, there were several large transactions that were always the same amount, as well as larger transactions that were tracked by the Whale Alert monitoring service .
As Cointelegraph reported , there was a $ 1 billion transaction on Tuesday that could be attributed to Coinbase
However, analysts clearly distinguish between short-term price developments and their longer-term effects. Some believe Bitcoin has already demonstrated its maturity as an asset and further gains are almost guaranteed in the coming months.
As stated by Cointelegraph , Real Vision CEO Raoul Pal publicly said that Bitcoin would climb to its all-time high of $ 20,000 within three months.
On the other hand, Cointelegraph Markets analyst Michaël van de Poppe emphasized that it is important to break through $ 14,000 and make that level a support. Conversely, the $ 13,000 level should now act as a major support zone.