Ali (@ali_charts) made an intriguing observation in the crypto world earlier today, revealing the existence of a noteworthy buy wall for Bitcoin (BTC). The tweet indicates that a robust buy wall exists for BTC between the $27,170 and $27,970 price range, which is supported by the fact that over 1.45 million unique addresses have purchased more than 700,000 BTC within that range. With such significant support, the buy wall could act as a safety net, keeping BTC from falling below this crucial level.
The most significant support wall underneath #Bitcoin lies between $27,170 and $27,970, where 1.45 million addresses bought over 700,000 $BTC, shows on-chain data from @intotheblock.
If this demand wall holds, notice that #BTC faces little to no resistance to advance further. pic.twitter.com/bFKH0MnjPI
— Ali (@ali_charts) March 26, 2023
According to Ali’s analysis, BTC’s price can surge if the current buy wall remains intact. Additionally, Ali notes that no significant barriers are hindering BTC from ascending further from its current level.
Bluntz’s bearish BTC prediction
In a recent tweet, Bluntz (@Bluntz_Capital), a prominent crypto trader, expressed a bearish view of BTC’s future performance. According to him, the bullish momentum of BTC is losing steam, and he anticipates that the cryptocurrency may revisit the $26K level this week.
momentum on #btc starting to wane, i think we may get an early week retest of 26k pic.twitter.com/2OJKnbWIgs
— Bluntz (@Bluntz_Capital) March 27, 2023
According to CoinMarketCap, the price of the crypto market leader is up 0.44% in the previous 24 hours as of press time. There needs to be more than this 24-hour boost in BTC’s price to turn BTC’s weeklong performance around. During the previous seven days, the price of BTC has fallen by 0.65%. Consequently, at press time, the price of BTC is $27,819.79.
BTC dominance on the rise
The percentage of the market that BTC controls have increased by 0.24 percent during the last twenty-four hours. This raises its domination in the cryptocurrency market to 46.24 percent as of this publication. The overall market valuation for all cryptocurrencies is now about $1.16 trillion, with the top cryptocurrency having a value of $537,793,881,982.