Bitcoin has once again crossed the price line of $ 57 thousand, but the market lacks activity to stabilize the upward trend.
Night BTC rate several times briefly rose 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 below the 10-hour MA, but above the 50-hour MA. This indicates a short-term downturn while maintaining overall bullish momentum..
Analysts believe that the overnight growth was indirectly supported by the official data on the slowdown in the rate of inflation of the US dollar, which allowed investors to use instruments with higher risks. Another factor is the excess of demand over supply. After the recent drop to $ 44,000, the number of sellers has dropped significantly, which also stimulates growth.
Bitcoin price rises above $ 57 thousand again, but trading volume remains low
The positive sentiment of market participants is confirmed by a study by Goldman Sachs, according to which every fifth investor expects the bitcoin rate to rise to $ 100 thousand. in the medium term.
text: Ivan Malichenko, photo: Shutterstock, chart: TradingView