Bitcoin continued to sit firmly below the $26,000 level on Wednesday, after breaking out of a key price floor. The world’s largest cryptocurrency by market cap has mostly consolidated in recent days, as traders await Federal Reserve Chair Jerome Powell’s speech at Jackson Hole this Friday.
Bitcoin
Bitcoin moved below a key price floor late on Tuesday, as the cryptocurrency extended its streak of consolidation.
Following an earlier high of $26,160.78, BTC/USD dropped to an intraday low of $25,520.73 late during yesterday’s session.
This resulted in price diving to a five-day low, and below a recent support point at the $25,600 level.

Bitcoin chart by TradingView

As of writing, bitcoin has since rebounded and is currently trading at $25,870.08, with the relative strength index (RSI) hovering around a floor of its own at 20.00.
Price strength now sits at 19.82, which remains in the depths of a bear zone, however, it also acts as a positive for longer-term bulls, as sentiment ap

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