Altcoins bounce to new highs as Bitcoin price trades sideways under $50K
Bitcoin struggles to hold the $50,000 level, while positive announcements help several altcoins break out to new all-time highs. The cryptocurrency market recovered some of the losses from the past couple of days on Feb. 25 as Bitcoin (BTC) briefly pushed back above the $50,000 level and multiple altcoins have seen double-digit price gains. Data from Cointelegraph Markets and TradingView shows that Bitcoin bounced off a low of $45,200 late on Feb. 24 before rallying 15% to $52,000 in the morning trading session.BTC/USDT 4-hour chart. Source: TradingViewWhile the rebound in the....
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Select altcoins are rallying to new all-time highs while Bitcoin remains pinned below $33,000. As Bitcoin price trade sideways, traders are keeping an eye out for new purchases from institutional investors in order to gauge whether BTC's correction is over. MicroStrategy’s recent purchase of 314 Bitcoin at an average price of $31,808 is a mild sentiment booster but it may not be enough to arrest the decline if buyers do not step in and sustain their purchases at higher levels.A recent timezone analysis by QCP Capital divided the Asia and U.S. trading sessions into a 12-hour bracket and....