Dear Readers,
There was a remarkable recovery in the crypto space from the past week dip.
The BTC has gone to the low of 38500 USD and it has climbed up remarkably and now trades at USD 42450 which is higher than 2.5% from yesterday.
While 38000 USD was acted as a strong support, BTC didn't go further and climbed up immediately.
From the time when the BTC ETF approval, BTC was not going up and it went down continuously.
Even many feared that whether BTC would touch 30000 USD mark.
The sell of BTC reserves by FTX with the Grayscale Bitcoin Trust was said to be the low performance of BTC. It also coupled with the US Government's Silk Road Seizures.
But to all our surprise, BTC started to move above and it comfortability trade in the 42000 USD+ mark.
If it sustains above 43000 USD, it would further go up towards 48000 USD.
48000 USD is a very strong resistance for BTC as of now.
It is one thing that every one got positive on BTC is that even though at the very low price, the BTC volume was not down. It trades with a higher volume is considered to be the buying interest on BTC.
The noted crypto expert Ali expressed in his twitter post that BTC has recorded with 1 million address for the first time in this year is a promising sign for BTC.
In the coming days, we do anticipate that BTC coin would be in the radars of the traders also.
BTC technicals also returned to bullish as of now:
If BTC turns bullish, we can anticipate other altcoins would turns into green as well.
From tomorrow onwards, the BTC related crypto ads would also be allowed in Google too. This is a major decision by Google following the BTC ETF approval in US.
Let's hope positivity in the BTC price as well as crypto markets!
