- Bitcoin (BTC) stays in the $28K price range.
- The largest whale holds $1.6 billion in BTC.
Bitcoin (BTC), the largest cryptocurrency in terms of market capitalization, was recently trading at around $28,052, down slightly more than 1.5% over the past 24 hours. The price of Bitcoin seesaws and then stays in the $28,000 range and is still stuck below the significant $30,000 mark as cryptocurrency investors await encouraging signs. Despite this, business intelligence company MicroStrategy continued adding 1,045 bitcoins to its treasury, which now totals 140,000 BTC.
Bitcoin struggled to choose between the air above $28,000 and the air below. However, BTC’s current up-move indicates a bull market rally after the sharp recovery from the low of November 2022’s bear market.
Additionally, on April 5, a $500 million (17769 $BTC) Bitcoin transaction appeared on the BTC network. The significant whale address received the 5th largest BTC transaction of the year and now holds $1.6 billion in BTC.
Bitcoin (BTC) Price Analysis
Since the start of 2023, the value of one bitcoin has surged from its previous range of $16,840 to $28,803, an increase of $11,963 that is over 70% year-to-date. Also, despite March being a bullish month for the majority of cryptocurrencies, investors are still optimistic about a positive outlook in the cryptocurrency market during April.
Bitcoin is now in its fourth week at a price of $28K, which has piqued the interest of the crypto community. At the time of writing, BTC traded at $28,035 with a 24-hour trading volume of $15 billion and a market cap of $542 billion. Bitcoin has climbed about 25% in the last 30 days and has a market dominance of 45.7%.
Further, the Bitcoin Fear & Greed Index is now “Greed,” with a score of 63 out of 100. On a weekly basis, it is more likely that sideways trading will continue in the $27,500 to $28,500 range. The above positive sentiments indicate that Bitcoin may reach the $30K mark this month.
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