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  4. $40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely
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$40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely

There’s was no rest for weary crypto traders on March 10 as a blistering 7.9% CPI print emerged as the headline of the day, putting pressure on global financial markets and...
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$40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely © Reuters.

There’s was no rest for weary crypto traders on March 10 as a blistering 7.9% CPI print emerged as the headline of the day, putting pressure on global financial markets and erasing the previous day's gains in Bitcoin (BTC) as the price fell back below $40,000.

Data from Cointelegraph Markets Pro and TradingView shows that the BTC sell-off kicked off in the early trading hours on Thursday and escalated into midday with the price hitting a low of $38,562 before dip buyers bid it back above support at $39,000.

BTC/USDT 1-day chart. Source: TradingView
BTC/USD 1-week chart. Source: Twitter (NYSE:TWTR)
Bitcoin long-term holder SOPR. Source: Stack Funds
The number of unique BTC accumulation addresses. Source: Twitter
BTC/USDT 1-day chart. Source: Twitter

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Cập nhật 01-05-2024 10:45:19
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