{"id":138133,"date":"2023-09-02T04:24:44","date_gmt":"2023-09-01T22:54:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138133"},"modified":"2023-09-02T04:24:44","modified_gmt":"2023-09-01T22:54:44","slug":"bitcoins-tipping-point-prominent-trader-peter-brandt-highlights-key-level-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoins-tipping-point-prominent-trader-peter-brandt-highlights-key-level-crypto-news\/","title":{"rendered":"Bitcoin’s Tipping Point? Prominent Trader Peter Brandt Highlights Key Level – Crypto News"},"content":{"rendered":"

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<\/a><\/p>\n

Alex Dovbnya<\/a><\/p>\n

With the cryptocurrency teetering just above a crucial August low of $28,574, top traders are rife with speculation<\/p>\n<\/div>\n<\/div>\n

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In a recent tweet<\/a>, renowned trader Peter Brandt has drawn attention to a significant trendline for Bitcoin, originating from its 2023 bottom.<\/p>\n

Brandt suggests that a move below the August low of $28,574 could signal either a bearish trend or a potential bear trap for the leading cryptocurrency.<\/p>\n

\"BTC\"<\/p>\n

As of now, Bitcoin is hovering just above this crucial level, priced at $29,116.88, according to data<\/a> from CoinGecko.<\/p>\n

The broader cryptocurrency market has been experiencing a period of unusual calm, with Bitcoin’s volatility reaching historic lows.\u00a0The flagship cryptocurrency has been trading in the tight range of $29,000 to $30,000.<\/p>\n

Analysts at Glassnode<\/a>, a crypto market intelligence firm, commented on the current market state, suggesting that this “very boring” market may continue to persist.<\/p>\n

This stagnant phase has left market participants divided, with some viewing it as a temporary lull, while others speculate it might indicate a more permanent shift in the cryptocurrency’s characteristic volatility.<\/p>\n

As reported by U.Today<\/a>, Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, are now less volatile than traditional assets like oil and even gold.<\/p>\n

Data analytics firm Kaiko revealed that the 90-day volatility for the two aforementioned cryptocurrencies stands at 35% and 37% respectively, compared to oil’s 41%.\u00a0<\/p>\n

It remains to be seen whether a decisive move in either direction will happen this August.\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Alex Dovbnya With the cryptocurrency teetering just above a crucial August low of $28,574, top traders are rife with speculation In a recent tweet, renowned trader Peter Brandt has drawn attention to a significant trendline for Bitcoin, originating from its 2023 bottom. Brandt suggests that a move below the August low of $28,574 could signal […]<\/p>\n","protected":false},"author":2,"featured_media":138134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138133"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138133\/revisions"}],"predecessor-version":[{"id":148187,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138133\/revisions\/148187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138134"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}