The Bitcoin (BTC) price He made a nice move today and even traded over $40,000! It’s not entirely clear where the sudden movement is coming from, although there is some positivity here and there today Crypto News Regarding the adoption of cryptocurrency. In this market update, you can read all about price action today.
Bitcoin price skyrocketed
Where fear still exists in its shadows The conflict in UkraineWe have seen that the price of Bitcoin is very volatile in recent days. The Russian invasion pushed the price as low as $34322. But since then a little The price has slowly but surely crept towards the $40,000 resistance area.
Since February 24, Bitcoin Slightly lower in terms of volatility decreased. Last night there was a slight drop to $37,500, but today at 3:00 PM BTC jumped again. With trading volume high, the price broke the resistance near $40,000 an hour later, as shown in the chart below.
At the time of writing, the price of Bitcoin is $41,108 Queen Piece† on the Dutch cryptocurrency exchange Petavavo BTC is trading at $36,601. This is about 5.5% more than it was 24 hours ago. However, over the past three hours, bitcoin is no less than 8% in the affirmative.
BTC faces the next resistance
It’s a nice move for bitcoin in which price immediately hits the next hurdle. It is related to the resistance area between $41,000 and $42,000, the price level it was at earlier this month. the support Found before you fall from here. It is important now for the price to reach the $39,300-39,500 price level Rotation in support.
– ROD encryption (RodMaartin) February 28, 2022
‘Best Bitcoin Buyers’ Sold Private
Then have a look at on the chain data. A new update from blockchain analytics firm Glassnode shows that it was the top bitcoin buyers who sold their bitcoins last week. These are the bitcoin buyers who bought BTC during the peak price and thus have plunged deeply in recent weeks. The scammers However, I held on tight, despite the turbulent times.
# bitcoin Big buyers have largely given up, with holders of smaller coins selling heavily over the past week.
In this release, we take a deep dive into coin distribution and what it tells us about the HODLer base
– glassnode (glassnode) February 28, 2022