How much is Bitcoin worth today?

The price of Bitcoin (BTC) was little bit changed on May 18 compared to the other days everyday close as traders awaited more clearness on the looming debt crisis in the United States.Slight gains for Bitcoin as market belief increases On May 17, U.S. President Joe Biden revealed his self-confidence in ending the standoff with Republicans to avoid a default, which enhanced market sentiment. Bitcoin increased 1.5% afterwards, reaching over $27,400 on the day.BTC/ USD daily price chart. Source: TradingViewBitcoins recovery may have likewise gained momentum on Tether announcing it will release 15% of its monthly functional earnings to purchase Bitcoin.How much is Bitcoin worth in other currencies? See our Bitcoin & & Cryptocurrency CalculatorOverall, the price of Bitcoin is up 65% on year-to-date, however still down 60% from its record high of $69,000 in November 2021. Bitcoin cost need to overcome more powerful dollarBitcoin dangers dropping in May thanks to a flurry of strong U.S. financial data previously today, which puts Junes rates of interest hike back on the map. For example, after two flat months, the countrys commercial output leapt 0.5% in April, beating expectations of 0.1% development. Retail sales increased by 0.4% in April after a 0.7% decline in the previous month. This recommends that consumer spending held up despite dealing with financial headwinds. U.S. retail sales information in current months. Source: BloombergThe potential customers of another rate hike lifted U.S. Treasury yields, which, in turn, improved hunger for the U.S. dollar. U.S. dollar index daily cost chart. Source: TradingViewBitcoin, which generally trades inversely to the greenback, will remain in risk if the dollar strength index enters a new bull phase. BTC rate technicals tilt bearishBitcoin rate chart technicals are similarly painting a bearish target of $25,000, an important psychological rate level, by June.Related: Watch these BTC price levels as Bitcoin threatens to lose $27K supportThe bears will argue that Bitcoin faces strong selling pressure from its 50-day exponential moving average (50-day EMA; the red wave) near $27,670. A pullback from there positions BTC/USD for a drop toward its 200-day EMA (the blue wave) near $24,860. BTC/USD everyday price chart. Source: TradingViewConversely, a relocation above Bitcoins 50-day EMA might invalidate the bearish setup while setting BTC cost on the course towards $30,000 by June.This article does not include investment suggestions or recommendations. Every investment and trading move involves threat, and readers should perform their own research study when deciding.

Bitcoin rose 1.5% afterwards, reaching over $27,400 on the day.BTC/ USD daily price chart. See our Bitcoin & & Cryptocurrency CalculatorOverall, the cost of Bitcoin is up 65% on year-to-date, but still down 60% from its record high of $69,000 in November 2021. BTC cost technicals tilt bearishBitcoin price chart technicals are similarly painting a bearish target of $25,000, an essential psychological price level, by June.Related: Watch these BTC cost levels as Bitcoin threatens to lose $27K supportThe bears will argue that Bitcoin deals with strong selling pressure from its 50-day exponential moving average (50-day EMA; the red wave) near $27,670.