Bitcoin

when

April

<ul> 
 <li><strong>At the time of writing, Bitcoin is trading at $52,273, down 0.16% in the last 24 hours.</strong></li> 
 <li><strong>If the price manages to go below the $50,700 mark then the price will likely test $49,750.</strong></li> 
</ul> 
<p>There has been a dramatic change in the Bitcoin liquidity scenario, especially on U.S cryptocurrency exchanges. The advent of exchange-traded funds (<a href="https://thenewscrypto.com/bitcoin-etfs-could-push-btc-price-to-112k-in-2024-cryptoquant/" target="_blank" rel="noreferrer noopener">ETFs</a>) in the U.S is largely responsible for the dramatic increase in liquidity shown in recent statistics.</p> 
<p>The liquidity dynamics of <a href="https://thenewscrypto.com/altcoins-open-interest-surges-amid-bitcoin-futures-hit-23-billion/" target="_blank" rel="noreferrer noopener">Bitcoin</a> have changed significantly, with US-based crypto exchanges benefiting the most, according to a new report by research firm Kaiko. The majority of the bids and asks within 2% of Bitcoin’s mid-price have occurred on U.S trading platforms since the US spot ETFs were established, according to the research.</p> 
<p>There will be a likely huge supply shock in the crypto market in April of this year, when Bitcoin’s halving event takes place. Its price might be greatly affected by this.</p> 
<h3 class="wp-block-heading" id="h-bulls-in-control">Bulls in Control</h3> 
<p>Last week, Bitcoin surged beyond $52,000, a figure not seen since December 2021, causing the total crypto market cap to soar to an incredible $2 trillion. A number of cryptocurrencies have responded favorably to this upward trend, mimicking the behavior of BTC.</p> 
<p>With the exception of a few altcoins that have performed sluggishly, most cryptocurrencies have provided returns for investors over the medium to long term, according to the most recent research by Santiment.</p> 
<p>At the time of writing, Bitcoin is trading at $52,273, down 0.16% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 23.04%. The price has been consolidating lately hinting towards a likely breakout in either direction.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/02/BTC_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-92005" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/BTC_7D_graph_coinmarketcap-2.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/02/BTC_7D_graph_coinmarketcap-2-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>If the price manages to go past $52,690 level, then it will likely surge further to test $56,200 resistance level. However, if the price manages to go below the $50,700 mark then the price will likely test $49,750 support level.</p>

Bitcoin Consolidates as Bulls Strongly Hold Price Over $52K Level

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