Bitcoin price hits $57,000 for the first time since December 2021
Source Fxstreet
- Bitcoin price tagged $57,000 for the first time since December 2021.
- This move comes after BTC inflated by 5.31% on Monday and nearly 5% in the early trading session on Tuesday.
- Investors need to be cautious of this volatility as it could see a significant sell-off.
Bitcoin price had low volatility between February 15 and 25, but in the last two days the buyers seem to have made a comeback as BTC hit $57,073 on Binance.
Bitcoin price hits $57,000
Bitcoin price has hit a new yearly high of $57,000 for the first time in more than two years. The bull run that began in 2023 is still going strong and shows no signs of stopping. The nearly 5% upswing noted on Tuesday, coupled with the Monday's 5% has made this move possible.
BTC/USDT 1-day chart
According to data from CoinGlass, this explosive move has liquidated nearly $250 million worth of positions on Monday, with $120 million liquidated as of February 27.
BTC liquidations
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Santiment says XRP and Ethereum sit in a 30-day MVRV “undervalued” zone, with XRP at -5.7% and ETH at -7.6%, while Bitcoin is listed at 3.7% and XRP has rebounded above $1.9 after dipping to $1.8 on Sunday.
Bitcoin struggles with precarious positioning amidst macroeconomic volatility, closing the week below key support and setting the stage for potential further declines.
Top 3 Price Outlook: BTC Holds Above $89,000 as ETH Tests Resistance and XRP Stabilizes Near $1.90BTC trades near $89,300 after reclaiming $87,787 support and eyes $90,000, while ETH tests $3,017 and the $3,101 50-day EMA and XRP rebounds to $1.90 from $1.83 with $1.96 resistance and $1.77 downside risk.
BTC trades near $89,300 after reclaiming $87,787 support and eyes $90,000, while ETH tests $3,017 and the $3,101 50-day EMA and XRP rebounds to $1.90 from $1.83 with $1.96 resistance and $1.77 downside risk.
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