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7 October 2022
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Bitcoin (BTC) Price Update – Bitcoin is Once Again Preparing to Reclaim $10,000

According to the data from the CoinMarketCap, most of the crypto market has once again turned green including the top-ranked digital coin Bitcoin (BTC) which is steadily climbing up at the moment. After facing a sudden price crash on June 2, the top digital asset by market capitalization Bitcoin is once again gaining momentum as the price value of the coin eyes to reclaim the historic resistance of $10,000 once again.

Bitcoin Price Value

At the time of writing, the price value of Bitcoin is trading at $9,781.57 USD with a change rate of +1.28% in 24 hours.

Bitcoin Statistics

At the press time, the following is the key statistical data of Bitcoin:

  • The market capitalization of Bitcoin is standing at $180,864,053,107 USD out of the total market cap.
  • 24-hour volume of Bitcoin is $25,974,660,576 USD.
  • Bitcoin’s Circulating supply is 18,394,181 BTC.

Price Analysis – BTC aims to retest $10K

Bitcoin price got rejected for once when it attempted to cross the resistance of $9,700 and crept towards $9.5k. But in its second attempt, the leading coin has found a way through this resistance level and is continuously moving up in the green zone. With a positive change rate in 24 hours, the top digital coin is once again thinking about retesting the historic resistance of $10,000. 

It seems possible for Bitcoin to cross over this resistance level from where it is standing at the moment. But the leading coin needs to maintain the current momentum to get success.

Can BTC make another attempt to retest $10,500?

The current situation of Bitcoin can lead Bitcoin to reclaim $10K level. But once this happens, will it be possible for Bitcoin to retest its multiyear resistance of $10,500 where it has been rejected three times in the past few months?

The leading digital currency might attempt to jump over this resistance but there is likely a chance that it can face another rejection at this resistance level because its technical fundamentals do not look strong and if the price value of the coin gets rejected there again, it will be the fourth rejection for Bitcoin. The key support levels that can provide support to Bitcoin are $9.3K, $9.5K, and $9.7K.

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