Bitcoin Price Analysis: BTC Finds Minor Bid - 27 September 2022

BTC/USD Finds a Bid:  Sally Ho's Technical Analysis – 27 September 2022   Bitcoin (BTC/USD) worked to extend some upside momentum early in the Asian session as the pair was lifted from the 18681.02 area following additional selling pressure that emerged around the 18949.61 level.   Technical sentiment remains quite bearish after BTC/USD's latest attempt to reclaim the psychologically-important 20000 figure was thwarted around the 19949.97 area last week.

Timeline of Bitcoin

Aside from the weekly candle, which ended in the red, Bitcoin made no substantial move and still hovering around the $19K range. Technical Analysis By Grizzly The Daily Chart On the daily chart, Bitcoin is currently trading on top of the support zone between $18K to $18.5K (in yellow).

Holders of the largest cryptocurrency, Bitcoin [BTC], might have a cause to be joyous in the coming days, blockchain analytics platform, Santiment, recently found. According to it, the just concluded trading session last weekend was marked by a surge in interest in BTC on multiple social platforms.

The Bitcoin price continues to trade in a tight range between the mid area around $18,000 and $19,500. The cryptocurrency has been moving sideways after a rejection from the $20,000 level which has led to a spike in fear and uncertainty across the nascent sector.

Four months on from its SEC rejection, GBTC's discount to NAV hit a new all-time low amid crypto market tumult. The post Grayscale Bitcoin Trust discount hits all-time low amid crypto market downturn appeared first on The Block.

Among other investment assets, cryptocurrency is prominent when it comes to volatility in prices, including altcoins such as Chainlink. While an uptrend matters a lot to daily traders, dipping could be favorable for accumulation for long-term investment.

Bitcoin started the week trading below $19,000, as recent economic pressures continued to weigh on cryptocurrency markets. The token fell lower in today's session, as market sentiment remained bearish following last week's rate hikes by the U.S. Federal Reserve. Ethereum was also lower, falling below $1,300.

The global crypto market cap is still hovering below $1 trillion dollar which is led by the world's first cryptocurrency, Bitcoin (BTC). The flagship currency on the other hand is struggling to reclaim its pace above $20,000. At the time of publication, Bitcoin is selling at $18,919 with a drop of 0.

British crypto investors holding bitcoin are better off than U.S. counterparts who denominate their holders in the stronger Dollar. The post Pound hits all-time low versus the dollar, softening pain of bitcoin losses for Brits appeared first on The Block.

The markets appear to be in favor of the bulls as an attempt to rise beyond $19,000 was quickly nullified. The price continues to struggle around these levels as the Bitcoin price is again entering the lower support zone.

Bitcoin adoption has always been the subject of rigorous debates in many countries today. With financial powerhouses such as the U.S. and China still taking a hard stance against cryptocurrencies, it remains to be seen if the adoption of crypto by different nations will reach its peak in the near future.