Currencies38131
Market Cap$ 2.27T+0.29%
24h Spot Volume$ 31.06B-4.69%
DominanceBTC56.40%+0.09%ETH9.51%+0.96%
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Bitcoin Price Analysis For February 13, 2024


Bitcoin Price Analysis For February 13, 2024

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Bitcoin saw an impressive rise to begin the week, reaching over $50,000 on the markets. On February 13, BTC is trading at just over $49,000, slightly returning to earth a bit. However, its 13% surge in the past month can’t be ignored.

bitcoin btc dead declared obituary coffin
Source: WatcherGuru

While Bitcoin today appeared bearish, the performance of the leading cryptocurrency has been one to marvel at. Following a steady start to February around the $42,000 level, BTC exploded last week to $49,000 and even touched $51,0000 for a short period. However, some market watchers have expressed concerns that the surge was a false breakout. On the hourly chart, the rate of BTC is looking bearish since Tuesday morning.

Currently, the bears and bulls for Bitcoin appear to be in a tug-of-war. The bullish surge for BTC is certainly one that holders don’t want to lose out on. On the other hand, bears can see Bitcoin dropping even lower, and riding this fall to as low as $46,000 once again.

Also Read: Bitcoin Bounty: Investor Strikes Gold with $13.5 Million Crypto Haul

On Monday, leading crypto analytics platform Glassnode reported that key on-chain indicators assessing Bitcoin’s value have entered a “high-risk” zone. Therefore, a bullish rebound is still possible, but the latest drop this morning indicates that this rebound is under threat.

Read the article at Watcher.Guru

In This News

Coins

$ 64.14K

+0.43%

$ 33.38K

$ 0.000207

$ 0.103

+2.86%

$ 0.000161


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Share:

In This News

Coins

$ 64.14K

+0.43%

$ 33.38K

$ 0.000207

$ 0.103

+2.86%

$ 0.000161


Predictions Markets

See what traders are focused on

View analytics →
Prediction Banner

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