BTC Goes Up to $31.000: Will It Secure the Support Level?

by in Cryptocurrency News

Bitcoin price $31.800

After falling below $30.000, the Bitcoin price managed to go up by around 7% over the last 24 hours. Currently, the coin trades at around $31.800.

Related: Bitcoin Price Below $30.000 For the First Time in a Month

Data from a cryptocurrency information platform Bybt shows that as Bitcoin dropped to its 1-month low of $29.360 yesterday, whales stepped in. In one hour, the entire network liquidated 135 M. The largest liquidation of 4.51 B was in Bybit's long orders.

As a result, the price went up. Analysts divide into two groups. Some predict future fall and some say the Bitcoin price will continue to increase as there are bullish signs.

Other cryptocurrencies also have seen growth in the last 24 hours. Ethereum, as well as BNB, gained around 9% and trade at $1930 and $288 respectively. Among the biggest gainers is Dogecoin, which went up by over 17.8% reaching $0.1955.

The total crypto market cap stands at about $1.29T, which is an 8.04% increase over the last day.