Crypto Blog
Bitcoin’s price is recovering steadily from the drops experienced the other day, and the bulls are now targeting a critical resistance level.As seen in the chart below, Bitcoin’s price has managed to almost complete a V-shaped recovery from the lows at around $56K from two days ago.
The bulls have managed to push the price toward $60K, getting as high as $59,820 on some exchanges. The price has since retraced a bit, and it traded at slightly above $59K on Saturday morning. This marks an increase of about 1.3% in the past 24 hours. BTC remains 2.6% down in the past week.This is all you need not to miss any price action in the raging crypto markets.
All in all, though, the market remains uncertain. The ongoing battle between bears and bulls has resulted in about $111 million worth of liquidated positions, $70M of which are long traders and the rest – short traders.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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