March 28, 2024

Bitcoin price rises above $ 57 thousand again, but trading volume remains low

Bitcoin price rises above $ 57 thousand again, but trading volume remains low

Bitcoin once again crossed the $ 57 thousand price line, but the market lacks activity to stabilize the upward trend.

At night, the BTC rate several times for a short timerose above $58 thousand, but could not stay at the achieved level. The subsequent correction lowered the price, and at the time of publication, the leading cryptocurrency is trading at $56,655 with a daily gain of 2.08%.

On the hourly chart, the current rate is above the 10-hour MA, but above the 50-hour MA. This indicates a short-term downturn while maintaining overall bullish dynamics.

Bitcoin price rises above $ 57 thousand again, but trading volume remains low

Analystsbelieve that night growth is indirectcontributed by official data on a slowdown in US dollar inflation, which allowed investors to use instruments with higher risks. Another factor is the excess of demand over supply. After the recent decline to $44 thousand, the number of sellers has decreased significantly, which also stimulates growth.

The positive attitude of market participants is confirmed by a Goldman Sachs study, according to which every fifth investor expects the Bitcoin rate to increase to $100 thousand in the medium term.

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