Bitcoin Steady Above $20K After Drop To $17K – A Slow Climb To Green?

Bitcoin Steady Above $20K After Drop To $17K – A Slow Climb To Green?

After a weekend in which Bitcoin (BTC) experienced realized losses to the tune of $7.3 billion, the largest cryptocurrency has erased all weekend losses and is up over 8 percent to $21,206 in the last 24 hours.


Bitcoin has risen almost 22 percent since Saturday’s low of $17,592, and is currently trading around $21,000.


The BTC price increased more than 4 percent to $20,882, Coin Metrics data showed Tuesday. Over the weekend, Bitcoin reached a low of $17,959. It had not been lower since December 2020.


On Wednesday, Bitcoin climbed after a slew of negative sentiments had lifted the cryptocurrency to a new 2022 low over the weekend.


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Bitcoin Market Selling Pressure

Heavy liquidations in the cryptocurrency market dropped Bitcoin’s price below its all-time high in 2017, placing a heavy load on the whole cryptocurrency industry.


The broader cryptocurrency market did not anticipate such a sharp decline, especially below the “unbreakable” $19,000 support, but the cryptocurrency has, as is occasion ..

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