Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market

Name	Symbol	Market	Market Cap ($)	Algorithm
Amp	AMPUSD	Crypto	427,975,529	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Amp

AMPUSD

Crypto

427,975,529

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000400	-0.05%	0.007625	0.00758	0.007684

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000400

-0.05%

0.007625

0.00758

0.007684

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.007755	0.007537	0.007628	0.007629	0.001400 - 0.016850

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.007755

0.007537

0.007628

0.007629

0.001400 - 0.016850

Exchange	Last Trade	Size	Trade Price	Currency
CRTO	15:37:04	10.00	0.007625	USD

Exchange

Last Trade

Size

Trade Price

Currency

CRTO

15:37:04

10.00

0.007625

USD

Price x Volume	Volume	Base Symbol	Related Pairs
418,316.48	54,754,891.28	AMP	AMPEUR	AMPGBP	AMPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

418,316.48

54,754,891.28

Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market

06/09/2022 6:07pm

NEWSBTC

Bitcoin shows no reversal, and many altcoins are still in the red zone. The market condition can be traced to several factors, such as the Federal Reserve’s hike in interest rates. A few weeks back, the crypto markets dropped even further after the announcement of the interest rate hike. Several altcoins, including Bitcoin and Ethereum, reacted negatively to the report. Bitcoin and Ethereum went down by 0.9% immediately after the Federal Reserve report. In 24 hours, they dropped by 2.4% and 2.0%, respectively. Related Reading: WATCH: Weekend At Bitcoin’s: Will The Dead Crypto Make A Comeback? BTCUSD September 2, 2022 This motion brought the price of Bitcoin to a little above the $23,300 price mark. Ethereum, at the time, was trading at a price just above the $1,800 price level. Other markets also went down to the red zone during this period. A notable example is the stock market. Dow Jones, for instance, dipped by about 0.23%. Additionally, the Nasdaq and the S&P 500 are also trending sideways. Dating from then up to now, the crypto markets continue to drop, bringing Bitcoin a little lower than the $20K price level. Bitcoin Strives For The $20K Price Mark In the last 24 hours, the crypto market has shown that the bears are creating no room for the bulls. This fact leaves Bitcoin struggling to attain the $20,000 price level. This price mark is as essential to BTC as it is to the digital currency market. The reason is that the $20K price level marks the 2017 to 2018 bull market top price. So, for the crypto market movement to continue in a bullish trend, it must stay above this price level. While it appears BTC will hit $20K, it trades at a price just below the coveted price. According to the market watch, BTC has been down by 7% in the last seven days. Meanwhile, its 24-hour drop rate is about 1.5%. A chart revealed that the volatility of the BTC has also reduced in the last 24 hours compared to two days back. This was evident when it surged above the $20K price level almost immediately after hitting the $19,500 price mark. The Bearish Crypto Market From the present look of the crypto markets, only a few tokens display bullish movement. Aside from these digital tokens, the market fluctuates around the red zone. At the moment, there’s no positive sentiment about the current state of the market. Related Reading: WATCH: Bitcoin September To Remember: The Good, The Bad, & The Ugly | BTCUSD September 1, 2022 Some of the altcoins are down by a few percent in the past 24 hours. For example, Ethereum, the second largest cryptocurrency, is up by 3%. Featured image from Pixabay and chart from TradingView.com

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