Cryptocurrency Markets Trade Lower as They Continue to Cope With Geopolitical Uncertainty

Notable Statistics: Notable Developments: Top Losers: Trader Notes: With Bitcoin prices hovering around the $60,000 mark, Daan Crypto Trades is curious is this is a range deviation or a bearish retest.

Cryptocurrency markets are showing signs of weakness on Wednesday evening as markets continue to navigate through geopolitical uncertainty.

What Happened: The total cryptocurrency market cap now stands at $2.43 trillion, down 0.43% over the past 24 hours.

Bitcoin trades lower by 0.3% over the last 24 hours, trading at the price of $60,100.

Top Gainers (24 Hour):

Top Losers (24 Hour):

Chart: Coin360

Top cryptocurrency slipped further away from the key resistance level of $64,500 on Wednesday, after failing to break above the level on Tuesday.

Bitcoin began a rally last week that saw the price of the apex crypto hit a high of $62,900 on Monday.

After failing to break above the key resistance level, Bitcoin began to slide back down on Wednesday evening.

Cryptocurrency markets showed signs of weakness on Wednesday evening as total markets slipped below the 24-hour peak of $2.45 trillion.

Markets began the week showing strength on Monday as total cryptocurrency markets approached the 24-hour peak of $2.47 trillion.

However, markets began to slip away from the 24-hour high on Wednesday evening.

Crucial Next Resistance: daan crypto trades highlights the 24-hour chart of BTC, showing the price action approaching a range deviation (orange) or a bearish retest (dotted fib levels).

If this is the case, daan crypto trades notes that a move above $64,500 could lead to a continuation of the rally.

Chart: TradingView/daan crypto trades

Two Levels Continue To Act As Support: Crypto trader Rekt Capital highlights two levels that are crucial to continue acting as support for Bitcoin.

Specifically, Rekt notes the 21-week EMA (green) and the downtrend (light blue) that were broken two weeks ago.

Chart: Twitter/Rekt Capital

Coinbase Spot Buy Orders Surged: Looking at on-chain data, crypto trader Seth notes that Coinbase had a huge spike in spot buy orders on Tuesday.

This could indicate possible accumulation at lower prices.

Chart: TradingView/seth