Bitcoin (BTC) remained at $40,000 on Monday, following a week of lackluster performance.
As is customary in the second part of the month, buyers appear to be returning — a pattern seen by some experts this year. Furthermore, historical evidence implies that equities and cryptocurrencies are about to enter a typically vital phase in April and May, which may support short-term price increases.
However, geopolitical and regulatory dangers persist. For example, tensions between Russia and Ukraine escalated over the weekend, putting some investors on edge. In the crypto markets, new proof of money laundering and hacking may cause concern among policymakers worldwide.
For the time being, some other cryptocurrencies outperformed bitcoin on Monday, showing that traders had a higher appetite for risk. Terra’s LUNA token and Monero’s XMR token have both increased by 8% in the last 24 hours, compared to a 2% increase in BTC.
Meanwhile, markets were volatile on Monday, as traditional safe-haven assets like gold and the US dollar climbed. It shows that, despite short-term price increases in speculative investments, global investors
Bitcoin’s price increase over the last 24 hours coincided with a minor increase in trade volume.
Nonetheless, purchase and sell volume remained balanced on Monday, indicating buyer and seller hesitation. Traders must keep BTC over $40,000 with a higher-than-average book to maintain the recovery phase.
So far, technical indicators are in the neutral zone. Katie Stockton, managing director of Fairlead Strategies, observed a false breakout in BTC on the charts, indicating that resistance at $48,000 could stymie a price rebound.
Moonbirds NFTs fly on launch, grossing $200 million: Moonbirds, a non-fungible token (NFT) project, enthralled the crypto sphere last weekend on its route to a record-breaking trade volume, becoming the newest collection to achieve blue-chip status just days after its April 16 mint.
Shiba and Dogecoin suffer losses when the market falls due to macroeconomic concerns: Meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) have dropped more than 4% in the last 24 hours, leading to earlier losses among significant cryptos. DOGE prices plummeted following a short gain the previous week fueled by bullish emotion as speculators bet on Tesla (TSLA) CEO Elon Musk’s planned takeover of social media company Twitter (TWTR).
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