Bitcoin (BTC) price close to this level for the next support range?

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Bitcoin (BTC) Price News: The crypto market is showing signs of improvement after November’s bloodbath that saw most assets plunge to very low levels. But the current environment is far from stabilizing towards an overall bull run. Meanwhile, crypto exchange Binance is scrambling to prove that it is in good financial health and that its reserves strongly support user assets. Over the past few weeks, FUD replaced the BNB coin after the crypto community raised concerns about the exchange’s policy of full transparency.

Also read: XRP lawsuit: another victory for Ripple? Judge partially denies SEC request

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BTC about to find new support?

While BTC is stagnating around the current price range, it has yet to find a crucial support level. It can also be said that the best cryptocurrency needs to break the $16,900 resistance level to find continued upward price action. At the time of writing, the price of BTC stands at $16,815, up 0.30% in the past 24 hours, according to price-tracking platform CoinMarketCap. Against this backdrop, crypto traders believe that Ethereum (ETH) is showing better resilience in comparison.

Michaël van de Poppe, a crypto trader, believes that BTC could have a strong continuation if it breaches the $16,900 level. He also believes that BTC could see a price breakout amid Binance’s takeover of Voyager’s assets. The Voyager asset deal, valued at $1.022 billion, could help the crypto lender unlock client funds. With the distinction of being the largest cryptocurrency exchange by trading volume, Binance has recently faced criticism over its asset hoards.

“Bitcoin needs to break $16.9,000 then we can have a strong continuation. Ethereum shows more strength despite everything.

Also Read: Biggest Dogecoin Whale Moves 4 Billion DOGE, Is It Elon Musk?

News of auditing firm Mazars suspending its services to several crypto exchanges, including Binance, has only made matters worse for the company. Following Mazars’ announcement, the price of BNB coins plummeted, which further aggravated the situation for Binance. However, the top 5 ranked cryptocurrency seems to be on the way to normalcy.

Anvesh reports major developments regarding crypto adoption and trading opportunities. Associated with the industry since 2016, he is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and contact him at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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