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The price of bitcoin dipped to $58,867 on Thursday, around 2 p.m. Eastern Time, but by 8:50 p.m. it had climbed back above $60,000. The initial drop reflected heavy selling…
Bitcoin's huge price surge in January has meant that 64% of Bitcoin investors are in profit, according to data from IntoTheBlock.
The selling pressure in the Bitcoin market is not as bad as it was during the Terra and Three Arrows Capital crises.
Analysts across crypto and traditional stocks have taken notice of the similarities between what happened in March 2020 and market moves so far this month.
The Bitcoin market appears to be retracing the gains it has made since January as whales may be exiting and selling on centralized exchanges according to Glassnode.
USD runs the show behind the scenes as the Easter weekend sparks pain for Bitcoin bulls.
While many analysts believe Bitcoin is destined for six-figures if support at $40,000 can hold up, others are predicting an imminent bear cycle.