Bitcoin and the cryptocurrency market are showing signs of recovery from the recent price corrections, boosting investor confidence.
Earlier Bitcoin broke the $60,000 barrier after the news about an assassination attempt on Donald Trump and the resurgence seems to be gaining steam. Just moments ago BTC briefly reached the $61,000 price mark.
At the time of writing Bitcoin retraced to $60,775 after a 3.86% surge in the past 24 hours with a trading volume of around $22.6 billion. The flagship cryptocurrency is up 8.35% on the weekly chart.
During the past day $100.7 million were liquidated from the crypto market – $29.13 million in long positions and $71.57 million in short positions.
Proof for the bullish santiment can be found in the 1-day technical analysis from TradingView. The summary, moving averages and oscillators all point to “buy” with 10, 8 and 2 signals, respectively.
The recent selling preassure seems to have calmed down after the German government’s wallet (BKA) seems to have finished with its liquidation.
The biggest gainer in the past 24 hours is Mog Coin (MOG) after a 15.2% surge and a trading volume of $40.79 million. On the weekly chart the altcoin’s price jumped more than 46%.
JPMorgan analysts are raising doubts about Bitcoin’s role as “digital gold” as demand for traditional gold continues to strengthen.
Cryptocurrency analyst Ali Martinez has raised concerns about Ethereum’s future performance against Bitcoin, suggesting a significant decline could be on the horizon.
The U.S. Bitcoin mining sector is gearing up for potential challenges after President Donald Trump announced new tariffs, set to take effect on April 5.
The cryptocurrency market faced a sharp decline after President Donald Trump announced new tariffs, triggering a sell-off that wiped out around $509 million in value.