Can Bitcoin stay above $46,000?

Can Bitcoin stay above $46,000?

Bitcoin (BTC) during the Asian session was under strong pressure from sellers.

On the spot market, they brought the cryptocurrency below $46,000. On some trading floors, the price of Bitcoin fell to $45,900.
European investors helped the coin rebound slightly, and it is now trading at $46,112. The capitalization of the leading digital currency dropped to $876.499 billion.

Altcoins are showing multidirectional movement dynamics on Monday, April 4. Ether (ETH) and Solana (SOL) fell to $3473 and $134.5, respectively.

Binance Coin (BNB), Cardano (ADA) and XRP, on the other hand, strengthened by about 3% to $446.8, $1.21 and $0.835. Dogecoin (DOGE) and Shiba Inu (SHIB) jumped 8% and 2% to $0.152 and $0.000026. The crypto market capitalization is just over $2.146 trillion.

Despite the bitcoin correction, many analysts still remain optimistic.

According to Glassnode, BTC is leaving exchanges. Investors withdrew about 100,000 Bitcoins from trading floors in March. A similar situation was observed after the March 2020 dump.

It is possible that we are witnessing a dramatic change of trend and investors are switching to a hoarding strategy, which should push the cryptocurrency to a new high, according to the Glassnode report.

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Written by Renat
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