Bitcoin (BTC) continued to surge on Tuesday, hitting an intraday high of $45,879 before entering a mid-session correction in the European trading window.
Binance’s order book shows a strong sell wall at $46,000, suggesting that this will be a key resistance line for the bulls to overcome.
Sell orders can be seen on the red side of Binance’s order book – Source: binance.com
So far, no good, with BTC/USD steadily falling hour by hour until bottoming out at $45,150 at the time of writing.
The news cycle is working in bitcoin’s favour, with the gamut of spot bitcoin exchange-traded funds on the precipice of approval.
In a recent straw poll conducted by Proactive, analysts gave 2024 bitcoin price predictions between $50,000 and $250,000, though bitcoin’s infamous volatility means any estimate should be taken with a pinch of salt.