{"id":43031,"date":"2024-12-10T15:49:06","date_gmt":"2024-12-10T15:49:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/price-analysis-bitcoin-finds-support-at-the-93k-level\/"},"modified":"2024-12-10T15:49:06","modified_gmt":"2024-12-10T15:49:06","slug":"price-analysis-bitcoin-finds-support-at-the-93k-level","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/price-analysis-bitcoin-finds-support-at-the-93k-level\/","title":{"rendered":"Price Analysis: Bitcoin Finds Support at the $93k Level"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/BTC-Price-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/BTC-Price-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/BTC-Price-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/12\/BTC-Price-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>The crypto market shed 6.48% (roughly $240 billion) yesterday as Bitcoin\u2019s fall from $101,000 to a daily low of $93,000 sparked $750 million in liquidations.<\/li>\n<li>Major cryptos have begun to recover, with some alts already logging double-digit price increases.<\/li>\n<li>Meanwhile, Bitcoin and Ethereum spot ETFs continue to log positive inflows.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a> bled in yesterday\u2019s trading session, falling from a daily opening price of $101,151 to a low of $94,270 during the US afternoon session before closing higher at $97,314. With a market dominance above 56%, the largest crypto by market cap weighed on the entire market as major altcoins logged double-digit losses.<\/p>\n<p>However, at the start of today\u2019s US trading session, some major altcoins appear to have found support. Ethereum reached a daily low of $3,506 yesterday and is up 5% from that level as of writing, while Solana is up 6.9% from yesterday\u2019s lows.<\/p>\n<p><strong>Is the selling over?<\/strong><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin\u2019s price<\/a> pushed down to a support zone with an upper boundary of $97,463 and while most of the selling pressure appears to have abated, its price still hovers around the support as definitive initiative buy action is yet to occur.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-255196\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/BTCUSD_2024-12-10_15-16-13_2526b.png\" alt=\"\" width=\"840\" height=\"479\"\/><\/p>\n<p>Open Interest trended lower since yesterday as liquidations and taking profit led to more positions being closed. However, a tell-tale sign of a resumption in the uptrend would be mounting open interest combined with positive price action, indicating new positions being opened.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone size-full wp-image-255197\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/BTC-OI-.png\" alt=\"\" width=\"1498\" height=\"585\"\/><\/p>\n<p><a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum\u2019s price<\/a> action is similar as the second largest cryptocurrency by market cap hovers around a support level awaiting either initiative buy action to push prices higher or sellers to push price lower.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-255198\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/ETHUSD_2024-12-10_15-24-58_fc561.png\" alt=\"\" width=\"846\" height=\"484\"\/><\/p>\n<p>Elsewhere, some altcoins have almost completely shaken off yesterday\u2019s slump, logging double-digit daily gains as of writing. Mantra is a great example of this as its price has climbed 14.11% since yesterday\u2019s close as of writing.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-255199\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/OMUSDT_2024-12-10_15-39-43_e6de6.png\" alt=\"\" width=\"847\" height=\"487\"\/><\/p>\n<p><strong>Spot crypto ETF inflows remain steady<\/strong><\/p>\n<p>Yesterday\u2019s slump is not indicative of a wider bearish sentiment as inflows into US crypto spot ETFs remain positive. US spot Bitcoin ETFs recorded $2.77 billion in inflows last week and $483.60 million yesterday.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-255200\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/BTC-ETF-Inflows.png\" alt=\"\" width=\"842\" height=\"302\"\/><\/p>\n<p>Ethereum ETFs followed a similar pattern, recording weekly inflows of $836.8 million and $149.80 million yesterday.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone  wp-image-255201\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/12\/ETH-ETF-Inflows.png\" alt=\"\" width=\"851\" height=\"591\"\/><\/p>\n<p>Bitcoin trades at $97,900 as at publishing while Ethereum trades at $3,600.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/price-analysis-bitcoin-finds-support-at-the-93k-level\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The crypto market shed 6.48% (roughly $240 billion) yesterday as Bitcoin\u2019s fall from $101,000 to a daily low of $93,000 sparked $750 million in liquidations. Major cryptos have begun to recover, with some alts already logging double-digit price increases. Meanwhile, Bitcoin [&hellip;]<\/p>\n","protected":false},"author":3947362368,"featured_media":43032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43031"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362368"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=43031"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/43032"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=43031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=43031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=43031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}