{"id":51618,"date":"2023-08-22T13:08:50","date_gmt":"2023-08-22T17:08:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bitcoin-prices-steady-at-26000-crypto-traders-are-bracing-for-another-storm\/"},"modified":"2023-08-22T13:08:52","modified_gmt":"2023-08-22T17:08:52","slug":"bitcoin-prices-steady-at-26000-crypto-traders-are-bracing-for-another-storm","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51618","title":{"rendered":"Bitcoin Prices Steady at $26,000. Crypto Traders Are Bracing for Another Storm."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies were steadying on Tuesday as investors in digital assets digested a selloff last week that snapped an extended period of uncommonly low volatility. But crypto traders are bracing for yet another storm.<\/p>\n

The price of Bitcoin has traded flat over the past 24 hours at around $26,050 after the largest digital asset plunged to near $25,500 in recent trading, revisiting the trough seen in the wake of last week\u2019s selloff to the lowest level since mid-June. Analysts are eyeing Bitcoin as vulnerable to further declines with the token below key technical levels, including its 200-day moving average.<\/p>\n

\n

\u201cNext support is already in reach near $25,200,\u201d said Katie Stoctkon, managing partner at technical research firm Fairlead Strategies. \u201cSecondary support is \u2026 currently around $20,600.\u201d<\/p>\n

Prior to the rout in crypto markets last week, Bitcoin had been in the midst of its lowest volatility in its history\u2014lagging excitement in the stock market, where the
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n have been whipsawing. While violent swings have subsided for now, traders are far from complacent, with pricing in the crypto derivatives market suggesting a surge in careful positioning.<\/p>\n

\u201cWhile historical volatility rocketed, it was the surge in implied volatility\u2014the market\u2019s crystal ball\u2014that should make investors take notice,\u201d analysts at crypto exchange Bitfinex wrote in a note. \u201cThis metric is still higher than historical volatility, and suggests traders are bracing for even more choppy waters ahead.\u201d<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014was down less than 1% to $1,670. Smaller tokens, or altcoins, were weaker, with
\n Cardano
\n down 2% and
\n Polygon
\n declining 4%. Memecoins were more mixed, with
\n Dogecoin
\n down less than 1% and
\n Shiba Inu
\n off 2%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies were steadying on Tuesday as investors in digital assets digested a selloff last week that snapped an extended period of uncommonly low volatility. But crypto traders are bracing for yet another storm. The price of Bitcoin has traded flat over the past 24 hours at around $26,050 after the largest digital […]<\/p>\n","protected":false},"author":1,"featured_media":31167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51618","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBitcoin Prices Steady at $26,000. 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