Bitcoin (BTC USD) briefly fell below $35000 on Tuesday, the first time in a week, despite price charts showing that the bull market is still intact.Due to increasing optimism about the possibility of approval for spot Bitcoin (BTC-USD) exchange traded funds, the most anticipated cryptocurrency hit nearly $38000 on Thursday and fell 3
Bitcoin (BTC USD) briefly fell below $35000 on Tuesday, the first time in a week, despite price charts showing that the bull market is still intact.
Due to increasing optimism about the possibility of approval for spot Bitcoin (BTC-USD) exchange traded funds, the most anticipated cryptocurrency hit nearly $38000 on Thursday and fell 3.9% to $35300 at 3:37 pm Eastern Time.
Looking at the Bitcoin (BTC USD) chart so far this year, it is evident that the price of the token is creating a higher low point, with the low point being higher than the previous low point. The price of BTC at the beginning of the year is approximately $16700.
It is worth noting that even in bullish markets, there are often pullbacks after a significant upward trend, as we see here, "said Greg Moritz, Chief Operating Officer and Co Founder of AltTab Capital, a crypto hedge fund This is expected and a part of the healthy market. The overall price trend, market sentiment, and continued growth in institutional interest in cryptocurrencies are still bullish
In terms of intraday weakness, Bitcoin is not the only one. ETH-USD fell 4.9% to $1.98K, XRP (XRP-USD) fell 12.3%, and BNB (BNB-USD) fell -1.9%. Solana (SOL-USD) is one of the only major tokens that are not affected by market adjustments based on market value, up 3.7%.
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