Bitcoin Price Slips Below $19,000, Vital Trading Levels To Look Out For

The Bitcoin price is now trading below the $19,000 level after the bulls failed to defend the coin at the aforementioned level. Over the last 24 hours, BTC fell by 1.2%, indicating that the coin was laterally trading.

Timeline of Bitcoin

With the decline in the price of bitcoin, there has been a lot of selling from investors. This sell-off trend has contributed to the further decline of the digital asset's prices in recent times.

For the third consecutive time, Federal Reserve, on 21 September, raised interest rates by 75 basis points (0.75 percentage points).  The broader financial markets immediately declined after the announcement as stock prices plummeted.

White House produced 46-page research on “Climate and Energy Implications of Crypto-Assets” It examines blockchains' energy usage, carbon emissions, and stress on local energy supplies,

Dogecoin (CRYPTO: DOGE) was showing comparative strength to much of the crypto sector during Friday's 24-hour trading session. On Friday afternoon, the Shiba Inu-based cryptocurrency was spiking up over 4% higher at one point while Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) were declining about 4% and 3%, respectively.

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are trading lower by 3.96% to $18,630 and 3.29% to $1,283 Friday afternoon. Cryptocurrencies at large are falling in sympathy with U.S. markets as investors react to the Fed's Wednesday decision to hike rates by 75 bps.

On-chain data shows the Bitcoin aSOPR profit-loss junction has continued to act as resistance to the price of the crypto. Bitcoin aSOPR Bounces Back Down From The Breakeven Line As pointed out by an analyst in a CryptoQuant post, the aSOPR value equal to ‘1' line has been acting as resistance for around 185 days now.

A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins. Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87. “XRP: Go to $0.60 and then $0.

Toronto-based Valour Inc. (formerly known as DeFi Technologies Inc.) is set to debut its Bitcoin Carbon Neutral Bitcoin Exchange Traded Product (ETP) on Börse Frankfurt, Germany's largest stock exchange. About the company According to the press release, Valour Inc.

Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors.

Two altcoins are up by at least 40% this week while the two leading cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), stall. XRP and fan-engagement token Chiliz (CHZ) are up by 14% and 9%, respectively, in the last 24 hours alone.