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Market Watch: Despite Price Dip to Weekly Low, Bitcoin Consolidation Range Continues

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Bitcoin continues to trade around $39,000 despite the brief price drop below $38,000. LUNA is up by 8% in a day.

Bitcoin briefly slumped to a weekly low beneath $38,000 but reclaimed all lost ground and returned to a familiar level of around $39,000. The altcoins are slightly in the red today, with a few exceptions, such as Terra.In the middle of last week, bitcoin initiated a surprising leg up after Biden’s executive order on cryptocurrency regulations andto nearly $43,000. However, this trip north was short-lived, and the bears came back to the scene.

In the following hours, BTC lost more than $3,000 and dropped to $39,000. Since then, the asset has remainedThe latest example came hours ago when the primary cryptocurrency fell by $1,500 to its lowest price position since March 7 at $37,500. Nevertheless, it bounced off and now stands around $39,000 once again, after Tesla’s CEO Elon MuskAs such, bitcoin’s market capitalization has remained just under $750 billion.This is all you need not to miss any price action in the raging crypto markets.

 

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