Bitcoin Price Prediction as Bulls Push BTC Back Toward $30,000 – Here Are The Key Levels to Watch
As the market observes the live Bitcoin price at $29,183, it remains closely monitored with a 24-hour trading volume of $11.9 billion.
Continuously updating in real-time, Bitcoin has experienced a slight 0.64% decline over the past 24 hours.
Holding the top spot on CoinMarketCap, its live market cap stands at $567.4 billion, supported by a circulating supply of 19,444,318 BTC coins, out of a maximum supply of 21,000,000 BTC coins.
The ongoing fluctuations have piqued the interest of investors, as they watch key levels and anticipate potential outcomes.
Bitcoin remained largely unchanged at the start of the week, unaffected by a significant DeFi exploit that targeted Curve Finance over the weekend.
The attack, involving a bug in smart contracts using the Vyper coding language, resulted in the theft of $24 million from several liquidity pools.
Consequently, the Curve DAO token experienced a sharp decline of over 12% to $0.63, signaling a loss of confidence in decentralized finance (DeFi) according to Ignas Defi Research.
As of now, there is no apparent direct impact on Bitcoin's price due to the exploit and the resulting sentiment in the DeFi space.
Bitcoin has displayed a sideways trading pattern, tightly bound between the $29,550 and $29,000 levels. The market's lack of significant volatility has confined the BTC/USD pair within this narrow range.
However, traders are closely monitoring this situation, as a breakout from this range could signal potential shifts in Bitcoin's overall trend.
Should a bearish breakout occur below the $29,000 level, BTC might face downward pressure and drop further, possibly testing support levels at $28,600 or extending to $28,200.
Conversely, a bullish breakout above the upper boundary of the
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