Bitcoin is presently priced at $61,985, showing a slight decrease of approximately 1.25% over the past 24 hours. Despite this modest decline, its market capitalization remains robust at $1,222 billion.
The cryptocurrency is currently being supported within an ascending channel, with a crucial level noted at $61,700. A breach beneath this support level could potentially initiate further downward movement, guiding Bitcoin towards support levels at $60,700 and $60,000.
Conversely, the 50-day exponential moving average (EMA) positioned at $62,210 is currently functioning as a barrier, indicating that any upward momentum may be constrained in the near term.