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Update: Bitcoin (BTC) Price Still Remains Steady Despite $1B Options Expiry

The price value of the world’s largest digital currency Bitcoin (BTC) is still holding steady despite the recent massive turmoil caused in the industry. The popular Asian cryptocurrency exchange KuCoin was hacked and it lost an amount of $150 million in cryptocurrency funds. Moreover, on Friday, approximately $1 billion BTC options contracts got expired. Still, there is no effect on the price value of the leading digital currency which is continuously trading in the $10,000 – $11,000 area.

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Bitcoin price is holding steady

The price of Bitcoin dropped below the past resistance level of $11,000 at the beginning week of the month of September and since that time, it has been trading below this mark while being hung in the $10k – $11k area. The coin’s price is holding steady and strong out there.

After the recent turmoil caused in the crypto space, the Bitcoin community was hoping a big move from the top-ranked digital currency, however, the coin has shown nothing so far. It is continuously trading steady at $10,687.34 USD with a change rate of 0.14% in 24 hours at the time of writing.

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Yesterday, Bitcoin’s price made an upsurge while topping the $10,800 mark, however, it retraced immediately afterward.

Key Levels to Watch

There are now four key levels to watch for Bitcoin in the short-term trend. First of all, the major digital currency needs to break above the next resistance level that lies at $10,790. If Bitcoin can surpass above this level it might be able to sneak through the past resistance of $11,000 in the coming days.

Once this tough resistance is broken, it will pave the way for Bitcoin to move forward. The next resistance levels for Bitcoin are $11,200, $11,350, and $11,540. In case, the first-ranked cryptocurrency is unable to break the next resistance there are some key support levels on which it can rely to sustain itself. The first support level lies at around $10,600 while the other two support levels are standing at $10,450 and $10,380 respectively.

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MubaShar Nawaz

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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