Bitcoin sank to an intraday low of $39,714.69 on Friday, following a late surge above Wednesday’s critical resistance level of $41,500. BTC was down as traders braced themselves for the lengthy Easter weekend.
Bitcoin – the world’s most sought-after digital asset – has fallen about $10,000 from a two-week high of $48,220, its highest level in over four months.
However, following weeks of retreats, it looks as though market analysts have identified a stable floor at $39,300, with bulls now attempting to drive prices higher once more.
Related Article | Bitcoin Price Plummets Below $40,000 As Crypto Market Tallies $440 Million In Liquidations
Bitcoin Feeling The Pressure
Concerns about macroeconomic and geopolitical concerns have lingered, keeping some investors away.
Russian President Vladimir Putin stated during a news conference on Thursday that peace talks with Ukraine have reached a stalemate.
Putin further vowed that Russia’s “military operation” will continue indefinitely.
On a technical level, Bitcoin’s 200-day moving average significantly stymied the recent bull run, resulting in a large price fall ..
Support the originator by clicking the read the rest link below.
