The Bitcoin price (BTC) is currently trading at $ 9,150. This means that the largest cryptocurrency by market capitalization is just above the previous day’s level. In the weekly and monthly review, the Bitcoin price thus loses a total of five percent.
Is it an Accumulation phase?
The current sideways phase can be interpreted as an accumulation phase. According to an analysis by crypto Twitter guru WillyWoo, the market is currently pointing to a bullrun. In his opinion, it would be healthy for the crypto market if this phase lasted longer – investors could strengthen the market sustainably.
From a technical point of view, it is now important for the Bitcoin price to break the resistance zone in the range between $ 9,190 and $ 9,480. If the bull camp manages to crack this critical area, the cryptocurrency could once again target the resistance zone around $ 10,000. The $ 8,800 mark will initially serve as a support line.
USA is dedicated to digitizing payments
A hearing on the digitization of money and means of payment is taking place in the United States today. Detailed information is few and far between. However, from the list of participants, which includes economists and regulators, among others, it can be concluded that the “digital dollar” and central bank currencies (CBDC) will be an issue. After all, the United States is under increasing pressure in this area. Because China wants to attack the US dollar hegemony with its digital national currency. In other words, the digital, cold currency war has long been in full swing.