- Bitcoin price is back to $52,000.
- Bitcoin price has been weak around the $60,000 resistance zone.
According to CoinMarketcap data, Bitcoin price has climbed back to $52,000 again with strong support this time. This happened after BTC was trading at a sell-off low last Sunday before it rose sharply to the current $52K.
Cryptocurrencies have shown a massive bull run at the start of this year, especially Bitcoin. Of note, the flagship crypto has even traded in a very tight range in the crypto bull market nowadays. Also, different kinds of altcoins are also performing well these days, especially Ethereum, Binance Coin, and Dogecoin.
Specifically, Bitcoin has drastically recorded continued price rallies amid this crypto bull run season. Nevertheless, the BTC price rally has been slow around the $60,000 resistance zone. This suggests that crypto traders and investors are eventually losing strength.
In addition, comparing BTC’s upward surge from March to today, we could see that its uptrend has been broken.
For the time being, traders are happy that Bitcoin price has recently climbed back from $47,500 to $52,000. Its next target is the $54,000 to $55,500 level, which was once its support range. For Bitcoin to regain its uptrend, it needs to retake the said price range and gather support from there. Once it does, people may see their bitcoins valued near $60,000 again.
At the time of writing, each bitcoin is worth $52,700.56, according to CoinMarketCap.