SOL - Bitcoin Struggles Against $28K Resistance Yet Analyst Suggests Its Appeal As An 'Unrelated Asset' May Lead To Increased Prices | Benzinga
The price of Bitcoin (CRYPTO: BTC) is once again grappling with the $28,000 resistance level.
What Happened: After a dip to just under $27,300 following the release of stronger-than-expected U.S. employment data, the world’s largest cryptocurrency quickly bounced back to just above the $28,000 mark, CoinDesk reported.
The price of Bitcoin was up about 1.5% over the last 24 hours, slightly lagging behind the broader CoinDesk Market Index's (CMI) 1.6% gain.
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Meanwhile, Ethereum (CRYPTO: ETH), the second largest cryptocurrency, broke its losing streak against BTC, growing nearly 2% on the day. Major altcoins Avalanche (CRYPTO: AVAX) and Solana (CRYPTO: SOL) led the market rebound, with gains of 6% and 3.8%, respectively.
According to Rachel Lin, CEO of SynFutures, the $28,000-mark is acting as a heavy resistance level for Bitcoin. “A sustained ...