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Bitcoin Price Daily Analysis: Steady Sailing at $25,662 – Sep 11, 2023

At the time of writing, Bitcoin clings onto a steady performance, trading at $25,662. This comes after seeing a 24-hour price range of $25,919 to $25,591. Albeit the minimal volatility within the past day, Bitcoin is cinching its dominance at the top spot in the list of top 50 cryptocurrencies by market capitalization.

Bitcoin Short-Term Price Prediction:

In terms of the 24-hour trading volume, a whopping $9,382,969,612 Bitcoin has changed hands just today. With this activity, the next 24 hours could see Bitcoin maintaining its current price level — if not a slight peak courtesy of traders looking for short-term gains.

Bitcoin’s Market Capitalization:

Bitcoin’s market capitalization at the moment is an impressive $500.254 billion, keeping it secure at rank 1 across the crypto market. Significantly, the circulating amount of Bitcoin stands at 19,482,337 out of a max supply of 21,000,000. This dominance in the market cap is reflective of Bitcoin’s encompassing 41,687.8610% of the total crypto market.

Bitcoin Long-Term Predictions:

The 7-day price trend appears a bit bleak, with Bitcoin experiencing an average drop of -0.8459%. Should this pattern persist, the forecast for the upcoming week is slightly bearish. However, this slight dip does not dim Bitcoin’s overall positive market sentiment—at 66.76%, it seems investors are keeping faith in this cryptocurrency behemoth.

Historical price records

Bitcoin holds a glorious all-time high record at $69,045 and a low of $67.81. With its current performance, it’s certainly fascinating to see how these historical extremes will play out in shaping Bitcoin’s future progression.

Correlation analysis:

As the first and the most significant digital currency, Bitcoin significantly influences other cryptocurrencies. Observing its price relation can offer insights into the entire crypto market’s trajectory now and in the future. For now, it’s safe to say Bitcoin at its price of $25,662 is giving derivative cryptos a much-needed stability and slow-paced growth.

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