Bitcoin (BTC) delivered few surprises on April 1 as steadier trading conditions prevailed for a third day and volume remained low.
Kriptovaluta piac napi áttekintése. Forrás: Coin360
BTC price shoots to plug futures gap
Adatok a Coin360 és Érmeleíró piacok painted a decidedly lackluster April Fool’s Day 2020 for Bitcoin, which since March 30 had traded in a narrower corridor between $6,100 and $6,600.
Compared with volatility earlier March, conditions were a relief for traders, while compared with the same time last year, the overall picture remained less enthusiastic.
Mint Cointelegraph jelentett at the time, April 1, 2019, sparked a three-month bull run for BTC/USD, during which the pair topped out at $13,800.
After falling by 70% to hit lows of $3,700 on March 12 this year, markets then recovered to hit $7,000 before circling press-time levels of $6,250.
Bitcoin 1 napos árdiagram. Forrás: Coin360
Now, analysts were still risk-averse, despite the encouraging signs which pointed to a long-term recovery continuing.
Cointelegraph Markets elemzője Michael van de Poppe noted that once again, Bitcoin had closed a “gap” in CME Group’s futures which had megnyitotta a hétvégén.
“…Rejection at the previous support at $6,600 and we’re moving slightly down. Still mainly range-bound, hence the low volume levels on the markets. Still remaining bearish sub $6,900,” he told followers in a fresh Twitter update on Tuesday.
“Long term (next 4-6 years) extremely bullish on $BTC.”
Glassnode: crash produced “shift in sentiment”
Previously, a formerly bearish Tone Vays had changed his mind about the state of the market. Bitcoin returning below $3,700 was now unlikely, he said, considering that level as the new bottom.
A megfigyelési forrás szerint Üvegcsomó, meanwhile, “a range” of metrics flipped positive after the crash.
“On–chain metrics used to assess #Bitcoin market cycles are indicating a potential shift in sentiment,” the company summarized uploading charts on Monday.
“In the weeks after $BTC’s price drop, most have bounced out of or sit in zones that have historically signaled bottoms and good entry points.”