Cryptocurrency is a rapidly evolving market and Bitcoin (BTC) is its leader. In the past 24 hours, the collective crypto market cap increased by 2.23% and BTC increased by 1.67%. Though the digital currency lost the important $27K support level on Thursday evening, it recovered and has been attempting to regain it. Over the course of the day, BTC had a low of $26,100 and a high of $26,994, but was still missing the crucial price point of $27K by a narrow margin.

After suffering a 1.07 % drop in the morning, BTC bounced back and registered a 1.7% increase. Its 4-hour chart noted that the latest attempt to break the $27K mark had lost traction due to a peak established in its relative Strength Index (RSI), yet the support of the 9 moving average (MA) line contained the downward sway.

Cryptocurrencies are notoriously known for its constant fluctuations in prices and a range of other factors like technicals, news, and more that impact the market. In the past few weeks, Bitcoin has held above the $20k threshold, temporarily reaching its all-time high of $40k, yet going down the following day. It is perceived to be an important psychological tipping point for investors.

In the past 24 hours, the crypto leader, Bitcoin, had an increase of 1.67% and is being constantly evaluated, as it attempts to push itself above the key $27K mark. While its current attempt has not been successful, news and other factors may positively or negatively impact its price. As such, investors should stay informed and constantly monitor all relevant cryptocurrency-related information.



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