Latest Situation in Bitcoin and Cryptocurrencies – October 20, 2024

Bitcoin spiked to $69,000 yesterday before pulling back to $68,000 after encountering resistance. Will this upward trend in Bitcoin continue? Where is Bitcoin headed next? Here’s our analysis of BTC, Ethereum, Dogecoin, and JUP.

– Bitcoin (BTC): In the last 24 hours, Bitcoin has risen by 0.34%, maintaining its sideways movement. The leading cryptocurrency is hovering around $68,500 with slight gains. The key resistance level remains at $69,000, and if the price breaks above this level, BTC could push towards $70,000. The nearest support is at $67,700, and a drop below this level could trigger further selling pressure.

– Ethereum (ETH): Ethereum is consolidating around $2,650, with resistance at this level. A break above could signal further upward momentum. The nearest support is at $2,600.

– Dogecoin (DOGE): DOGE has dropped by 0.38% over the past 24 hours, currently trading around $0.143. Resistance is at $0.147, and a breakout could push the price higher. Strong support is holding at $0.131.

– Jupiter (JUP): JUP has surged by 9.6% in the last 24 hours and is trading around $0.94. After recently breaking through significant resistance, JUP has set a target of $0.95. However, overbought conditions could lead to a short-term correction.

Looking at Bitcoin’s liquidation map, we see a concentration around $69,500 and in the $68,000-$68,700 range. During periods when the market seeks liquidity, it is possible that these levels could be tested.

Among the trending cryptocurrencies, Dog Food Token stands out with a rise of over 16%. In terms of top gainers, Big Time is up more than 24%, while MAGA ranks among the top losers.

In the ever-active world of crypto events, the next significant event is the RNDR to REDNER Migration on October 23. Additionally, Worldcoin is expected to undergo a rebranding process on October 21.