Bitcoin, the top cryptocurrency by market capitalization, has risen above $10,000 as the bulls and the bears continue playing tug-of-war. At the time of writing, BTC is trading at $10,073, CoinMarketCap data shows.
According to cryptocurrency trader Josh Rager, Bitcoin failing to break above $10.146 would result in another drop to the $9,600 level. Conversely, a breakout above this price mark will allow the bulls to aim for $11,000.
On a side note, Bitcoin trading volumes have been comparatively low as of recently, which makes it easier to manipulate the market.
Alex Krüger, another trading expert, points out that BitMEX Bitcoin volumes have dropped by a whopping 42 percent this week due to the CFTC probe.
Bitmex bitcoin volumes have dropped 42% since last week's CFTC news (as measured by volume's 4 day moving average).— Alex Krüger (@krugermacro) July 23, 2019